CERIL Statement 2023-2 on the European Commission Proposal for a Directive Harmonising Certain Aspects of Insolvency Law
In CERIL Statement 2023-2, CERIL presents a first empirical impression by its European-wide community assessing the benefits and shortcomings of the EC Proposal on harmonising certain aspects of insolvency law (EC Proposal).
The EC Proposal touches upon several topics that are proposed for furthering the harmonisation of certain corporate insolvency rules across the EU, making them more efficient and helping promote cross-border investment.
As a European independent and impartial think tank, CERIL has actively followed the development of the EC Proposal. CERIL presents a first empirical impression by its European-wide community assessing the benefits and shortcomings of the EC Proposal on harmonising certain aspects of insolvency law. Drawing on over 60 responses, mainly CERIL’s members as well as other experts in the field of restructuring and insolvency law, this study highlights that, although opinions differ on aspects of the EC Proposal, there is general agreement that the Commission is moving in the right direction.
With the survey results and its international conference in April 2023, and with its unique independent perspective as well as the geographical spread of its Conferees representing over 30 jurisdictions, CERIL expects to contribute to a deeper empirical assessment of the EC Proposal for harmonizing certain aspects of insolvency law.
This Statement was prepared by:
- Prof. Reinout Vriesendorp
- Prof. Ignacio Tirado
- Prof. Stephan Madaus
Research Associates: Gert-Jan Boon and Defne Taşman
The CERIL Statement 2023-2 can be downloaded here.
The Annex to the CERIL Statement 2023-2 (survey results) can be downloaded here.