JOeCERIL Report 2018-1 on Realisation of the EU Insolvency Regulation (EIR 2015) in the Member States

On 4 June 2018, CERIL issued its Report 2018-1:

Realisation of the EU Insolvency Regulation (EIR 2015) in national (procedural) law of the Member States

Initiated and chaired by em. Prof Bob Wessels, Leiden University, and Prof. Stephan Madaus, Martin Luther University, a CERIL working group conducted a survey (between October 2017 and March 2018) investigating the way in which a number of Member States (Finland, France, Germany, the Netherlands and draft legislation of Italy) have responded (or partly, or not) to the need for compatibility between the Insolvency Regulation (Recast; EU 2015/848) and these Member States’ domestic rules. From the survey it follows that legislators in Member States are rather reserved when drafting legislation to realise the recast Insolvency Regulation.

Read the entire CERIL Statement 2018-1 here.

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JOeConsumer rights and unexchanged gift cards/vouchers

In the EU there is a huge domain of rules in national law, often inspired by or resulting from EU law, concerning special rights of consumers. The general rationale of known national and EU regulations is that consumers need to be protected from companies with more resources and economic information in order to enable the consumer to enforce private law claims more effectively. Consumers’ claims are typically for a small amount, the costs concerning their validation and enforcement often exceed the sum of the claim itself. In the area of insolvency specific consumer protection legislation is a rarity. A specific rule in the travel sector is a well-known exclusion: the organizer and/or retailer party to a contract shall provide sufficient evidence of security for the refund of money paid over and for the repatriation of the consumer in the event of insolvency.

In this Working Party we are discussing which elements should be taken into account if and when the European Commission should embark on a project to protect the consumer better (than an ordinary unsecured creditor) in case of insolvency by its counterparty, especially in cases where the consumer makes a purchase in a supermarket, via a website or in a shop.

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