Parallel Reorganizations under the Recast European Insolvency Regulation - Selected EU Law Issues

2018 ◽  
Vol 27 (3) ◽  
pp. 340-373
Author(s):  
Tomáš Richter
Keyword(s):  
Eu Law ◽  
European Insolvency Regulation ◽  
Insolvency Regulation

Scope of The EIR

2016 ◽  
Author(s):  
Reinhard Bork ◽  
Renato Mangano
Keyword(s):  
Public Law ◽  
Individual Member ◽  
Member States ◽  
European Insolvency Regulation ◽  
Insolvency Regulation

This chapter analyses the situations in which the European Insolvency Regulation will be applied, as defined in its first article and in other provisions. The scope of the EIR is marked by a notable deference to the characterizations of particular insolvency situations used by individual Member States, and this is reflected in the chapter. The chapter looks first at the personal scope of the EIR. Member States categorize debtors in a range of ways: natural and legal persons, traders and consumers, bodies governed by private or public law. All of these perspectives will be taken into account, as well as the scope of the exemptions noted within the EIR and the position of groups of companies. The chapter scrutinizes the proceedings covered by the EIR, including pre-insolvency and hybrid proceedings brought into the system via reform and looks at the issues raised regarding territorial scope of the regulation.

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.

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