Commentary on the European Insolvency Regulation - Second Edition

This second edition of Commentary on the European Insolvency Regulation expands upon what has become a widely cited work on the recast EU Regulation on Insolvency Proceedings. It incorporates important developments in the case law since the Regulation was recast in 2015, as well as other significant updates. As with the first edition, it provides a detailed article-by-article commentary on the Regulation, written by a group of expert scholars andpractitioners from a range of European jurisdictions. Drawing on a rich body of CJEU and national case law, as well as scholarly developments, analysis of the Regulation is accompanied by a chapter explaining the background to the Regulation's enactment and recasting, identifying its key features, and examining therelationship between the Regulation and new European Restructuring Directive. As well as retaining the distinctive features of the first edition-the multi-jurisdictional focus of the expert contributors, and in-depth examination of the legislative provision and case law -the second edition offers new analysis of issues that have arisen since the publication of the first edition in 2016, including updates on the impact of Brexit and the passage of the European Restructuring Directive in 2019. This edition of Commentary on the European Insolvency Regulation istherefore a key new work for all those who advise or research on the topic of European insolvency law.

List of contents

• Introduction


• Article 1: Scope


• Aricle 2: Definitions


• Article 3: International jurisdiction


• Article 4: Examination as to jurisdiction


• Article 5: Judicial review of the decision to open main proceedings


• Article 6: Jurisdiction for actions which derive directly from the insolvency proceedings and are closely linked with them


• Article 7: Law applicable


• Article 8: Third parties' right in rem


• Article 9: Set-off


• Article 10: Reservation of title


• Article 11: Contracts relating to immoveable property


• Article 12: Payment systems and financial markets


• Article 13: Contracts of employment


• Article 14: Effects on rights subject to registration


• Article 15: Community patents and trade marks


• Article 16: Detrimental acts


• Article 17: Protection of third-party purchasers


• Article 18: Effects of insolvency proceedings on lawsuits pending


• Article 19: Principle


• Article 20: Effects of recognition


• Article 21: Powers of the liquidator


• Article 22: Proof of the liquidator's appointment


• Article 23: Return and imputation


• Article 24: Establishment of insolvency registers


• Article 25: Interconnection of insolvency registers


• Article 26: Costs of establishing and interconnecting insolvency registers


• Article 27: Conditions of access to information through the system of interconnection


• Article 28: Publication in another member state


• Article 29: Registration in public register of another member state


• Article 30: Costs


• Article 31: Honouring of an obligation to a debtor


• Article 32: Recognition and enforceability of other judgements


• Article 33: Public policy


• Article 34: Opening of proceeding


• Article 35: Applicable law


• Article 36: Right to give an undertaking in order to avoid secondary proceedings


• Article 37: Right to request the opening of proceedings


• Article 38: Decision to open secondary proceedings


• Article 39: Judicial review of the decision to open secondary proceedings


• Article 40: Advance payment of costs and expenses


• Article 41: Cooperation and communication between insolvency practitioners


• Article 42: Cooperation and communication between courts


• Article 43: Cooperation and communication between insolvency practitioners and courts


• Article 44: Costs of cooperation and communication


• Article 45: Exercise of creditors' rights


• Article 46: Stay of the process of realisation of assets


• Article 47: Power of the insolvency practitioner to propose restructuring plans


• Article 48: Impact of closure of insolvency proceedings


• Article 49: Assets remaining in the secondary proceedings


• Article 50: Subsequent opening of the main proceedings


• Article 51: Conversion of secondary proceedings


• Article 52: Preservation measures


• Article 53: Right to lodge claims


• Article 54: Duty for inform creditors


• Article 55: Procedure for lodging claims


• Article 56-77: Insolvency proceedings of members of a group of companies


• Article 78: Data protection


• Article 79: Responsibilities of member states


• Article 80: Responsibilities of the commission


• Article 81: Information obligations


• Article 82: Storage of personal data


• Article 83: Access to personal data via the European e-justice portal


• Article 84: Applicability in time


• Article 85: Relationship to conventions


• Article 86: Information on national and union insolvency law


• Article 87: Establishment of the interconnection of registers


• Article 88: Establishment and subsequent amendment of standard forms


• Article 89: Committee procedure


• Article 90: Review clause


• Article 91: Repeal


• Article 92: Entry into force


• Appendices

About the author

Reinhard Bork is Professor at the University of Hamburg, Germany and is a respected scholar in insolvency law in Germany. He has been a judge of the Upper State Court in Hamburg. He has published widely in German and in English and is the author of Rescuing Companies in England and Germany with OUP in 2012, as well as co-author of European Cross-Border Insolvency Law in 2016.

Kristin van Zwieten is Professor of Law and Finance at the University of Oxford, and Fellow of Harris Manchester College. She was previously John Collier Fellow in Law at Trinity Hall, Cambridge. Prior to her academic career, she trained as a solicitor in an Australian corporate law firm.

Summary

This second edition of the leading commentary on the European Insolvency Regulation reflects the impact of Brexit and the European Restructuring Directive. It continues to be a vital reference work for all those researching and advising European insolvency law.

Additional text

It is clear that this commentary rests on very solid foundations. For that and many other reasons, it should prove an enduring work of reference in the field of international insolvency for scholars, the judiciary, practitioners and policy-makers alike.

Report

Overall, it is clear that this commentary continues to rest on very solid foundations. For that and many other reasons, it should prove an enduring work of reference in the field of international insolvency for academics, judges, practitioners and policymakers alike. Paul Omar, Technical Research Coordinator, INSOL Europe, Eurofenix

Product details

• Authors: Bork , van Zwieten , Reinhard Bork, Reinhard (Chair of Civil Procedure Law Bork, Kristin van Zwieten
• Assisted by: Reinhard Bork (Editor), Bork Reinhard (Editor), Kristin van Zwieten (Editor)
• Publisher: Oxford University Press
• Languages: English
• Product format: Hardback
• Released: 28.02.2022
• EAN: 9780198852117
• ISBN: 978-0-19-885211-7
• No. of pages: 1136
• Subjects: Social sciences, law, business > Law > International law, foreign law; Europe, POLITICAL SCIENCE / International Relations / General, LAW / Bankruptcy & Insolvency, LAW / Business & Financial, POLITICAL SCIENCE / World / European, financial law, EU (European Union), International institutions, Financial law: general, EU & European institutions, Bankruptcy & Insolvency, Bankruptcy and insolvency