CERIL

On 17-18 April 2024 CERIL held its second international conference, this time in Vilnius, Lithuania. Some seventy-five attendees from fifteen European jurisdictions gathered at his conference hosted by the Mykolas Romeris University.

2024 marked the quinquennial of the Preventive Restructuring Directive (2019/1023). Five years after its adoption, most EU Member States have implemented the PRD 2019, while also inspiring reforms in several other European countries. The structure of the conference consisted of short presentations followed by discussions among the speakers, who are legal practitioners, scholars and judges, leaving ample room for debate. The conference evaluated how the PRD 2019 has been implemented and analysed experiences with the new restructuring frameworks. CERIL has conducted a survey on the implementation of the Preventive Restructuring Directive, of which the preliminary results were presented during this conference. The conference also took an outward look and touch upon other equally important questions: what inspiration have non-EU European countries taken from the Preventive Restructuring Directive? Or maybe more important, what elements have not been incorporated? In addition, the conference discussed how preventive restructuring frameworks function in times of economic and geopolitical uncertainties.

On 17 April 2024, after the welcome address by Reinout Vriesendorp (CERIL Chair), the Conference kicked-off with a keynote address on the PRD 2019 and its implementation by Miha Žebre from the European Commission followed by sessions on

• CERIL’s Review of the PRD 2019, presenting the preliminary results of the survey
  Elina Moustaira (Chair), Stephan Madaus, Ignacio Tirado, Defne Taşman
• PRD 2019: Confirmation Matters and Appeal
  Omar Salah (Chair), Bartosz Groele, Salvija Mulevičienė, Alexander Rokas, Nora Wouters

The first day concluded with a drink’s reception and a conference dinner. The second day included a keynote speech on resilient restructuring frameworks by Catherine Bridge Zoller from the EBRD. On 18 April 2024, the Conference focussed on

• PRD 2019: Safe Harbours, Valuation and Information
  Ignacio Tirado (Chair), Caterina Macchi, Myriam Mailly, Stathis Potamitis, Tomáš Richter
• Preventive Restructuring in non-EU European Countries
  Remigijus Jokubauskas (Chair), Sjur Swensen Ellingsæter, Marinela Majnova, Irina Selevestru, Kate Stephenson
• Restructuring in distress: how to deal with economic and (geo)political uncertainties?
  Nicoleta Mirela Năstasie (Chair), Oleksandr Biryukov, Ieva Broka, Patryk Filipiak, Frank Heeman

The Conference concluded with a social program discovering the history of Vilnius via a guided visit to the Grand Dukes’ Palace.

Looking back on the successful CERIL International Conference on Preventive Restructuring in Europe, CERIL is grateful for the dynamic discussions and insightful exchanges. During these two days, over 75 attendees immersed themselves in the impact of the EU Preventive Restructuring Directive 2019/1023 and the complexities of the new European restructuring frameworks, thanks to the active engagement of our esteemed speakers, chairs, and conference delegates.

CERIL greatly appreciates everyone who contributed to the success of our 2nd CERIL International Conference 2024. A special acknowledgment goes to all who made this Conference possible: our wonderful host, Mykolas Romeris University (MRU) represented by Remigijus Jokubauskas, Virginijus Bitė, Mykolas Kirkutis, Darius Bolzanas and the MRU Team, and to the valued friends of the Conference: Groele i Wspólnicy sp.k., IKRÉNYI & REHÁK, s.r.o., Kirkland & Ellis, Lithuanian Chamber of Insolvency Administrators, bnt attorneys in CEE, Boché Dobelle, POTAMITISVEKRIS , Studio Legale Trabucchi, and the Stichting Bob Wessels Insolvency Law Collection.

CERIL expresses its sincere thanks to the keynote speakers, chairs, and panelists and looks forward to welcoming everyone to the 2025 CERIL International Conference in Leiden, the Netherlands!