Registrierte Gegenstände im grenzüberschreitenden Insolvenzverfahren nach der EuInsVO

2019 ◽  
Author(s):  
Isabelle Schneider
Keyword(s):  
Member State ◽  
Single Market ◽  
Insolvency Law ◽  
International Integration ◽  
Cross Border ◽  
European Insolvency Regulation ◽  
European Single Market ◽  
Insolvency Regulation ◽  
State Affect ◽  
Insolvency Proceedings

With the growing international integration of corporate activities into the European Single Market, there is also a growing number of insolvencies with cross-border implications. The European Insolvency Regulation (EIR) creates a uniform international insolvency law for this purpose. This work examines how registered assets, i.e. land, ships and aircraft, which belong to a debtor are treated in cross-border insolvency proceedings under the EIR. Essentially, the work answers the question of how insolvency proceedings opened in one EU Member State affect the debtor’s assets that are registered in another Member State and how the insolvency administrator or a secured creditor can realise them. The recent insolvencies of the airlines Air Berlin and Niki in 2017 as well as of numerous shipping funds show the relevance and topicality of this matter.

Commentary on the European Insolvency Regulation

2016 ◽  
Keyword(s):  
New Work ◽  
Insolvency Law ◽  
Cross Border ◽  
European Insolvency Regulation ◽  
Insolvency Regulation ◽  
Article Analysis ◽  
Key Features ◽  
Effectiveness And Efficiency ◽  
Insolvency Proceedings

This book provides a detailed article-by-article commentary on the recast EU Regulation on Insolvency Proceedings (EIR), written by a group of experts drawn from several European jurisdictions. The commentary is prefaced by an introductory chapter that explains the rationale for the EIR, charts the background to its enactment, and sketches its key features as originally made and as recast. The commentary that follows has been published in time to cover the long-awaited and much-debated recast Regulation which was finalised in 2015. The introduction of the recast EIR has given authors and editors the opportunity to analyse a newly drafted and modernised law, containing a highly sophisticated set of rules designed to enhance the effectiveness and efficiency of Member State insolvency laws in cross-border cases. The timing of publication will enable practitioners and scholars to equip themselves with a thorough understanding of the recast EIR ahead of full implementation in 2017. The article-by-article analysis has a multi-jurisdictional focus which reports and evaluates significant developments in the application of the Regulation across Member States. This is a key new work for all those who advise on or research European insolvency law.

European Cross-Border Insolvency Law

2016 ◽  
Author(s):  
Reinhard Bork ◽  
Renato Mangano
Keyword(s):  
Member State ◽  
Insolvency Law ◽  
Main Interest ◽  
Significant Development ◽  
International Jurisdiction ◽  
European State ◽  
Cross Border ◽  
Insolvency Regulation ◽  
Centre Of Main Interest

This book provides a distilled and accessible analysis of the European cross-border insolvency law. With reference to the amended Insolvency Regulation (EIR) and related sources it examines the issues involved in intra-member state cross-border insolvency. The book analyses in depth the main areas of change brought about by the EIR such as the restatement of the meaning of 'centre of main interest' (COMI) and the rules on international jurisdiction, the new specific measures for multi-national enterprises, and the move towards co-operation between insolvency practitioners and courts. The EIR represents a very significant development in European insolvency law which will have an impact on all insolvencies with an international element involving a European state. All practitioners advising on the area need a clear grasp of the implications of the changes and this book aims to deliver just that.

Secondary Insolvency Proceedings

2016 ◽  
Author(s):  
Reinhard Bork ◽  
Renato Mangano
Keyword(s):  
Member State ◽  
European Insolvency Regulation ◽  
Insolvency Regulation ◽  
Insolvency Proceedings ◽  
The Relationship

The European Insolvency Regulation permits the opening of territorial proceedings conducted parallel to main proceedings, thereby modifying the concept of universality through the existence of so-called secondary proceedings. Secondary proceedings serve different purposes and are characterized by the fact that they are limited in their scope, as they only affect assets within the Member State in which the secondary proceedings have been opened. While the requirements for the opening of secondary proceedings as well as their effects are largely governed by the lex fori concursus secundarii, the EIR not only modifies some of these requirements but also contains an entire set of rules concerning the coordination of secondary and main proceedings to ensure efficient administration of the debtor’s assets. This chapter will therefore examine the principles of secondary proceedings, the requirements for and the effects of the opening of such proceedings, and the relationship between main and secondary proceedings.

scholarly journals Cross-Border Insolvency Law in Europe: Present Status and Future Prospects

2017 ◽  
Vol 11 (1) ◽  
pp. 67
Author(s):  
Bob Wessels
Keyword(s):  
National Court ◽  
Private International Law ◽  
Insolvency Law ◽  
Legal Concept ◽  
International Jurisdiction ◽  
Cross Border ◽  
European Court ◽  
Insolvency Regulation ◽  
Insolvency Proceedings ◽  
The Eu

In May 2007 the European countries celebrated the first lustrum of the EU Insolvency Regulation (1346/2000). This article describes where Europe stands with its model which is based on well known theories of private international law for dealing with cross-border insolvencies. The EU Insolvency Regulation provides for a national court to exercise international jurisdiction to open insolvency proceedings. The basis for international jurisdiction is the debtor’s “centre of main interests” or COMI. The two most important cases decided by the European Court of Justice (17 January 2006 Staubitz Schreiber and 2 May 2006 Eurofood) are discussed. The article further analyses the regulation’s legal concept and its procedural context and explains that 'financial institutions' are not covered by the Insolvency Regulation, but by separate directives (2001/17; 2001/24). After having taken stock several suggestions are submitted for improvement of the system of cross-border insolvency in Europe.

Reconstructing European insolvency law – putting in place a new paradigm

Legal Studies ◽  
2010 ◽  
Vol 30 (1) ◽  
pp. 126-146 ◽  
Author(s):  
Gerard McCormack
Keyword(s):  
Forum Shopping ◽  
New Paradigm ◽  
Insolvency Law ◽  
Race To The Bottom ◽  
American Experience ◽  
European Insolvency Regulation ◽  
Insolvency Regulation ◽  
Fatal Flaw

This paper critically examines the European Insolvency Regulation. It suggests the Regulation contains a fatal flaw at its heart; namely the ‘centre of main interests’ or COMI test governing the exercise of universal insolvency jurisdiction. The paper argues for greater jurisdictional flexibility to replace the COMI test and defends this proposal against charges that it will contribute to an excess of ‘forum shopping’ and encourage a ‘race to the bottom’. The American experience with bankruptcy court competition is considered in this connection.

scholarly journals The Characterization of Pre-insolvency Proceedings in Private International Law

2020 ◽  
Vol 21 (4) ◽  
pp. 855-894 ◽  
Author(s):  
Irit Mevorach ◽  
Adrian Walters
Keyword(s):  
International Law ◽  
Contract Law ◽  
Private International Law ◽  
Insolvency Law ◽  
Private Ordering ◽  
Cross Border ◽  
Unique System ◽  
Financial Restructuring ◽  
Insolvency Proceedings

AbstractThe decade since the financial crisis has witnessed a proliferation of various ‘light touch’ financial restructuring techniques in the form of so-called pre-insolvency proceedings. These proceedings inhabit a space on the spectrum of insolvency and restructuring law, somewhere between a pure contractual workout, the domain of contract law, and a formal insolvency or rehabilitation proceeding, the domain of insolvency law. While, to date, international insolvency instruments have tended to define insolvency proceedings quite expansively, discussion of the cross-border implications of pre-insolvency proceedings has barely begun. The question is whether pre-insolvency proceedings should qualify as proceedings related to insolvency for the purpose of private international law characterization. The risk is over-inclusivity of cross-border insolvency law, which, where it is based on universality and unity, might defeat contractual expectations. This article argues, however, that we should be slow to exclude pre-insolvency proceedings from cross-border insolvency law: these proceedings are initiated in the zone of insolvency, their effectiveness depends on a statutory mandate and not purely on private ordering, they interact and intersect with formal proceedings, and can benefit from the unique system developed by cross-border insolvency law. We suggest, though, that modified universalism (the leading norm of cross-border insolvency) and international insolvency instruments, should, and are able to, adjust to the peculiarities of pre-insolvency proceedings to address concerns about inclusivity and accommodate pre-insolvency proceedings adequately.

Die Anerkennung eines Konzerninteresses im europäischen Gesellschaftsrecht

2020 ◽  
Author(s):  
Marcel Stefan Endrich
Keyword(s):  
Single Market ◽  
Regulatory Regime ◽  
Group Management ◽  
Group Interest ◽  
Cross Border ◽  
European Single Market ◽  
Legal Situation ◽  
Academic Discussion ◽  
Group Law

There are no regulations in the European single market that lay down the mechanisms for group governance. For this reason, the academic discussion in the field of group law is increasingly focusing on the concept of group interest. The aim is to facilitate cross-border group management through a harmonised regulatory regime. The study evaluates the current legal situation and the proposed regulations. In the process, obstacles for a transformation into national law are identified. In addition, it is shown what effect the proposals would have on the level of protection granted to creditors. The insights gained are taken into account in a novel regulatory concept for the recognition of group interest.

Der Arrestvollzug in Seeschiffe während eines Insolvenzverfahrens

2019 ◽  
Author(s):  
Johannes Otto
Keyword(s):  
Unanimous Opinion ◽  
Insolvency Law ◽  
Effective Protection ◽  
Protective Mechanisms ◽  
Cross Border ◽  
Legal Situation ◽  
Starting Point ◽  
Detailed Interpretation ◽  
Definition Of ◽  
Insolvency Proceedings

Despite the economic relevance of insolvency cases with maritime implications, there is a lack of research studies that examine the associated problems in this respect. In particular, the arresting of vessels counteracts the objectives of insolvency proceedings. This comparative treatise offers scientific scrutiny of this topic and proposes practice-oriented solutions. It examines the protective mechanisms provided by the German and English insolvency laws and measures them according to their cross-border effects. In Germany, effective protection on the basis of the current legal situation is only achievable by classifying registered vessels as movable property. This contrasts with the unanimous opinion to date. This study’s dogmatic starting point is a detailed interpretation of the legal definition of immovable property under insolvency law in § 49 of InsO (Germany’s insolvency code).

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