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 and practitioners 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 the relationship 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 is therefore a key new work for all those who advise or research on the topic of European insolvency law.
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
