CERIL

Introduction

This Working Party deals with certain issues related to rights in rem within the European Insolvency Regulation (recast) (EIR 2015), specifically:

1. Is the rule under Article 8 EIR 2015 an absolute rule or should it be limited by a stay under Article 38(3) EIR 2015?
2. What is the relevance of a stay of opening of a secondary proceeding, when the assertion of the right in rem protected under Article 8 EIR 2015 independent from the commencement of an insolvency proceeding?

Following enactment in EU Member states of the 2019 EU Preventive Restructuring Directive (PRD 2019), however, certain issues may be worth a further examination in light of rights in rem. This may regard the meaning of a stay or moratorium of individual enforcement actions; the ambit of a stay (does this extend to all or only to certain types of claims, including secured and preferential claims); and what are the effects of a stay on rights in rem.

Chairs

Sarah Wolffe
Giorgio Corno (acting)

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