CERIL Statement 2022-2 on Cross-Border Effects in European Preventive Restructuring
In CERIL Statement 2022-2, CERIL addresses the cross-border effects in European preventive restructuring, focussing on the policy issues of identifying (and possibly selecting) the regulatory cross-border framework for new procedural options introduced in most EU Member States when implementing preventive restructuring frameworks flowing from Directive (EU) 2019/1023 on restructuring and insolvency.
CERIL welcomes any earlier, if not immediate, action of the European Commission towards the adoption of a special cross-border framework for restructuring proceedings that could be included (as a specific chapter) in the EIR or take the form of a separate Regulation. CERIL also invites all Member States to timely review their legal cross-border framework in order to enable or facilitate the recognition of foreign preventive restructurings.
The Reporters (Profs. Stephan Madaus and Bob Wessels), express their gratitude to the active involvement of the members of the Working Party 11 on matters regarding the EIR 2015. The reporters would like to express their gratitude for their insightful contributions to Petr Sprinz (Czech Republic), Jessica Schmidt, Reinhard Bork (Germany), Elina Moustaira, Stathis Potamitis, Alexandros Rokas (Greece), Zoltán Fabók (Hungary), Stefania Bariatti, Giorgio Corno, Rita Gismondi, Antonio Leandro, Luciano Panzani, Patrizia Riva, Caterina Macchi, Renato Mangano, Lorenzo Stanghellini (Italy), Michal Barlowski (Poland), Catarina Serra (Portugal), Djuro Djuric (Serbia), Ivan Ikrényi (Slovak Republic), Adrián Thery, Iván Heredia, Francisco Garcimartín (Spain), Michael Veder and Reinout Vriesendorp (The Netherlands).
This Statement and Report were prepared by:
- Prof. Stephan Madaus
- Prof. Bob Wessels
The CERIL Statement 2022-2 can be downloaded here.
The CERIL Report 2022-2 can be downloaded here.