CERIL

The 5th CERIL Annual (Virtual) Conference brought together conferees from over 34 countries to engage in thoughtful discussions on key developments and challenges in European and international restructuring and insolvency law. The full conference report can be found below.

Keynote Address
After the opening speech by the CERIL Chair, Prof. Reinout Vriesendorp, the conference began with a keynote address by Prof. Tony Casey (Donald M. Ephraim Professor of Law and Economics and Faculty Director of the Center on Law and Finance, University of Chicago Law School), who provided a detailed analysis of the Purdue Pharma case and the implications of third-party releases in mass tort cases. Prof. Casey's presentation offered insights into issues of consent, cross-border dynamics, and comparative practices, sparking engaging discussions.

Insights from European jurisdictions on third party releases were provided by Mylène Boché-Robinet (France), Jenny Davidson (United Kingdom), Ferdinand Hengst (Netherlands), Dominik Skauradszun (Germany), Adrian Thery (Spain), Luciano Panzani (Italy), and Kathlene Burke (Ireland).

CERIL extends its gratitude to Prof. Casey for his invaluable contribution and to the discussants for their reflections.

CERIL’s UNCITRAL Working Group V Committee
The conference also featured updates from the CERIL UNCITRAL WG V Committee, presented by the Committee Chair, Kathlene Burke. The Committee’s ongoing projects include the asset tracing toolkit and discussions on conflicts of law in insolvency, both of which are aimed at improving cross-border insolvency practices.

CERIL Project on the EU Preventive Restructuring Directive
The final session focused on CERIL’s Working Party 10 project, led under Stephan Madaus, Ignacio Tirado, and Reinout Vriesendorp, which examines the implementation of the EU Preventive Restructuring Directive (PRD) across Europe. Research Associates Guillem Gabriel-Pizarro and Defne Tasman presented the findings of an empirical study on the directive’s transposition, usage, and challenges. After an internal consultation, the results will be published as CERIL Report and Statement 2024-1, providing insights for practitioners and policymakers.

Acknowledgments and Full Conference Report
CERIL thanks all speakers, contributors, and participants for their active engagement and thoughtful contributions.
The full conference report prepared by Defne Tasman is available here.