CERIL was founded on a handshake in 2015 in Brussels by a group which presently forms the heart of the Executive. In 2016 its organisation (with members - called Conferees - from across Europe) was created. The founding conferees have been involved in a variety of ways in discussing and drafting national and European Union restructuring and insolvency laws or amendments to it. In February 2020, the legal entity of CERIL has been established as a Dutch association.
CERIL consists of the following bodies:
- General Assembly
- Advisory Board
The Executive of CERIL is responsible for the day-to-day management. It is composed of between three to fifteen conferees. The members of the Executive retire according to a schedule to be drawn up by the Executive. In general, an appointment lasts three years with the possibility for reappointment for a period of a maximum of three years. For an overview of the Executive, click here.
The General Assembly consists of all CERIL Conferees, it decides in particular on (a) appointment, suspension and dismissal of members of the Executive, (b) approval of CERIL’s budget, annual accounts and annual report, (c) the appointment and dismissal of an external auditor, (d) amendment of the articles of association, and (e) dissolution of CERIL. For an overview of the Conferees, click here.
In addition to the General Assembly and the Executive, the Executive may decide to set up and cancel an Advisory Board consisting of three or more members. The main Advisory Board’s task is to provide solicited and unsolicited advice to the Executive on all matters concerning the association.
In line with the Articles of Association, the Executive may install committees. Currently, the Executive has set up a Financial Committee, a Standing Dispute Committee and a Projects Committee.
To join CERIL as a Conferee is by invitation only. To secure that its conferees are leading scholars, judges and practitioners in the field, CERIL started with inviting the Experts on restructuring and insolvency (who have been appointed early 2016 by the European Commission to assist in drafting its harmonisation initiatives) and a selection of persons appointed by the European Law Institute to its project ‘Rescue of Business in Insolvency Law’, to become founding conferees. All invitations being accepted, this does not exclude the Executive from inviting other leading professionals in the field on a case-by-case basis.
A person shall become a member (Conferee) if admitted as a member by resolution of the Executive. The membership categories are Academic Conferee, Judicial Conferee or Ordinary Conferee.
An Academic Conferee is an individual who holds at least for 70% of its working time a position with an academic institution or otherwise mostly pursues academic activities.
A Judicial Conferee is an individual who hold at least for 70% of its working time a position with a judicial institute, such as a court or a comparable judicial or administrative institution.
An Ordinary Conferee is an individual, not being an Academic Conferee of Judicial Conferee, who otherwise takes an active interest in issues regarding restructuring and insolvency law.