Check out our Annual YANIL Workshops on Restructuring and Insolvency Law!
Most Recent: 7th YANIL Workshop - Algarve 2026 // Previous Editions: Vienna 2025 // Naples 2024 // Amsterdam 2023 // Dubrovnik 2022 // Dublin 2021 // Copenhagen 2019
Newsitems on the YANIL Research Webinar Series: Research Webinar Series - pt. 7 on 11 April 2025 // Research Webinar Series - pt. 6 on 7 March 2025 // Research Webinar Series - pt. 5 on 5 November 2024 // More...
YANIL News: 7th YANIL Workshop on Restructuring and Insolvency Law in Algarve, Portugal 2026
On 13 and 14 October 2026, the 7th YANIL Research Workshop on Restructuring and Insolvency Law took place in the Algarve, Portugal. Participants gathered for two days of presentations and discussions, hosted at the Instituto Superior Manuel Teixeira Gomes (ISMAT) in Portimão and the main conference venue in Vilamoura.
Workshop
The workshop provides a forum for early career restructuring and insolvency academics to present their (ongoing) research to peers and also to experienced academics. After the presentations, there is ample time to engage in thriving discussions and get useful feedback, input, and advice on the research.
The Workshop opened with a warm welcome from the YANIL Chair, Professor Giulia Ballerini (University of Padua) together with Professor Miguel Santos Neves (ISMAT). The Workshop was also attended by the students of ISMAT. The programme featured a wide variety of presentations on restructuring and insolvency law, offering valuable insights into ongoing developments and future directions in the field.
The first panel, chaired by Dr. Defne Taşman (University of Antwerp), focused on emerging challenges in corporate restructuring and insolvency. Pranjal Drall (Yale Law School) examined the relationship between private credit and insurance insolvency, illustrating how, under the current US framework, losses arising from private credit arrangements may ultimately be borne by competing insurers and taxpayers. Stefano Covino ((University of Pisa) explored entity-centred and enterprise-centred approaches to group insolvency and the role of post-commencement financing in liquidation. Thais Vitali Vieira (University of Barcelona) examined the provisions on directors' duties under Directive (EU) 2026/799, highlighting the challenges arising from differing national definitions of insolvency.
The second panel, chaired by Dr. Fabian Kratzlmeier (Max-Planck-Institute Tax Law), began with a presentation by Noor Mendonck (Ghent University), who examined insolvencies involving entities with a public-interest component and the circumstances in which special insolvency regimes may be justified. Lakshita Khurana (National Law University Delhi) explored the treatment of carbon allowances in insolvency proceedings and questioned whether the current EU framework adequately accommodates environmental obligations. Eusebio Calcaro (University of Rome Tor Vergata) compared the concepts of good faith and fairness in Italian and English restructuring law, highlighting their growing substantive importance.
The first day concluded with remarks by Professor Santos Neves, who emphasised the importance of initiatives such as the YANIL Research Workshop in providing young researchers with opportunities to present their work, receive feedback, and build professional networks. Professor Ballerini expressed YANIL's gratitude for ISMAT's hospitality. Participants then gathered for a group dinner in Vilamoura, providing a further opportunity for informal discussions and connections within the YANIL community.
Senior Lecture by Prof. Eugenio Vaccari
The second day began with a Guest Senior Lecture delivered by Professor Eugenio Vaccari (Royal Holloway, University of London). His lecture explored whether kindness has a place in insolvency systems and professional practice, inviting participants to consider the human dimensions of insolvency law alongside its economic objectives.
The third panel, chaired by Associate Professor Jonatan Schytzer (Uppsala University), addressed sustainability, cross-border insolvency, and corporate groups. Sara Scovotto (University of Salerno) examined how sustainability considerations differ between corporate rescue and liquidation. Oviya Nila Muralidharan (NYU School of Law) whether convergence among national insolvency laws could facilitate the arbitration of cross-border insolvency disputes. Angela Aromolo De Rinaldis (Università Cattolica del Sacro Cuore) examined Italy's group restructuring plan and considered whether it could provide a foundation for the development of substantive EU group insolvency law.
The fourth and final panel, also chaired by Associate Professor Jonatan Schytzer, began with a presentation by Giuseppina Pappalardo (Universitas Mercatorum), who examined financial management and preventive tools for addressing distress among third-sector organisations under Italian law. Radek Tesař (Masaryk Univeristy) discussed whether the Czech Republic's delayed implementation of Directive (EU) 2019/1023 may constitute a breach of EU law and considered the possible direct effect of Article 21(1) of the Directive.
Throughout the two days, the presentations and discussions reflected several themes shaping contemporary insolvency scholarship, including preventive restructuring, directors' duties, enterprise groups, public-interest insolvency, environmental liabilities, sustainability, and the continuing Europeanisation of insolvency law. The Workshop also provided an opportunity for early-career researchers and experienced academics to engage in constructive discussions, receive feedback on ongoing research, and strengthen connections and the international academic network surrounding INSOL Europe.
Thank you, Jonatan Schytzer!
The Workshop concluded with closing remarks by Professor Giulia Ballerini and Associate Professor Jonatan Schytzer, marking the end of his term on the YANIL Board. Having served on the Board since 2022 and contributed to the organisation of five research workshops, Jonatan has played an important role in supporting YANIL's activities and fostering its academic community. The YANIL Board extends its sincere gratitude to Jonatan for his dedication and contributions over the years!
The 7th YANIL Research Workshop once again demonstrated the value of bringing together researchers from different jurisdictions and at different stages of their academic careers. We extend our thanks to all speakers, panel chairs, and participants, and particularly to our discussants, Dr. Matthew Chippin, Dr. Charles Mak, and Professor Stephen Ware. We are also grateful to Professor Eugenio Vaccari for delivering this year's Guest Senior Lecture, to ISMAT for its hospitality, and to INSOL Europe and its Academic Forum for their continued support.
We look forward to the next edition - in Hamburg, Germany 2027!
Last updated 17 October 2026
YANIL News: 2025 YANIL Research Prize Winner
The jury is very pleased to announce the results of the 3rd edition of the YANIL Research Prize for Innovative and Outstanding Research!
This year’s competition brought together an impressive set of submissions from younger academics working in European insolvency and restructuring law. The depth, originality, and intellectual courage of the videos made the jury’s task both demanding and rewarding. After careful deliberation, the jury has awarded the prizes as follows:
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The Gold Prize of the 2025 YANIL Prize goes to Alina Holze for her paper: “The Scope of Protection of the Principle of Sovereign Immunity against Insolvency Challenges in the European Single Market considering Article 6 (1) EU Insolvency Regulation". This paper examines the interactio n between tax , insolvency, and public international law. A pending CJEU case focuses on the interpretation of Article 6(1) EIR 2015 and brings these fields into direct relation, providing an opportunity to analyze their interaction. Video is available here: https://youtu.be/okdnllNjDF0?si=OSpxAmqjzNRd8l26
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The Silver Prize of the 2025 YANIL Prize goes to Luca Lamanna for his paper: “Italy’s Path to Algorithmic Restructuring: Smart Contracts, DAOs and the Challenge of Corporate Governance Reform". This article examines the use of distributed ledger technologies and smart contracts in corporate restructuring under Italy’s Business Crisis and Insolvency Code. It proposes an algorithmic platform to address limits of the Composizione Negoziata della Crisi by automating verification, creditor voting, and tokenized financing. The analysis assesses legal viability, compatibility with insolvency principles, and implications for courts and experts, drawing on comparative experience from Germany, France, and the United States. Video is available here: https://youtu.be/ZZD__tq2Ojw?si=TVTV-lOsG7VB4hf2
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The Bronze Prize of the 2025 YANIL Prize goes to Matthew Chippin for his paper: “The anti-deprivation rule in England and Canada: Commonwealth divergence”. This article examines diverging interpretations of the anti-deprivation rule in England and Canada. While both systems invalidate arrangements that remove value from the estate on insolvency, English law allows such arrangements where they pursue a legitimate commercial purpose, unlike Canadian law. Using legal historical analysis, the article explains the origins of this divergence and its continued influence on judicial reasoning in both jurisdictions. Video is available here: https://youtu.be/WsiTdS6WqLw?si=DHioBfhDtMBRxG2q
Congratulations to the prize winners, and a sincere thanks to all participants this year for their excellent submissions.
The winners' videos are available on YANIL's YouTube Channel: www.youtube.com/@YANIL_IE
About the YANIL Research Prize
YANIL, a branch of the INSOL Europe Academic Forum (IEAF), provides a lively and supportive network for younger academics to grow their academic talents. In pursuit of its objectives, various initiatives to present and publish research have been developed in recent years. A new challenge pressing YANIL is to ensure that the research of younger academics enjoys the attention it deserves and is disseminated as widely as possible. The refreshing ideas of younger academics, thanks to new questions, methods, or solutions proposed, are considered crucial for the development of the academic debate. With this new Prize, YANIL aims to raise awareness of their research and support them in pursuing an academic career.
The 3rd Edition's Jury: Giulia Ballerini (YANIL Chair); Guillem Gabriel-Pizarro, Vasile Rotaru, Jonatan Schytzer, Defne Tasman (members of the YANIL Board) and Jennifer Gant and Gert-Jan Boon. The Prize is made possible with the kind financial support of the Foundation Bob Wessels Insolvency Law Collection (BWILC).
Last updated 24 February 2026 - edited 5 March 2026
YANIL News: 6th YANIL Workshop on Restructuring and Insolvency Law in Vienna, Austria 2025.
On 7 and 8 October 2025, YANIL's 6th Annual Research Workshop on Restructuring and Insolvency Law took place in Vienna, Austria. This year, YANIL was kindly hosted by the University of Vienna, where participants gathered for two days of engaging presentations and lively discussions.
Workshop
The Workshop opened with a warm welcome from Professor Christian Koller (University of Vienna), who reflected on the long-standing tradition of insolvency law debates that have taken place in the very room hosting the event. The programme featured ten presentations covering a broad range of themes within restructuring and insolvency law, offering valuable insights into ongoing developments and future directions in the field.
The first sessions explored the institutional and practical dimensions of insolvency research. Paul Newson (INSOL Europe) presented on the structure of INSOL Europe and the contribution of its members, while Alice van der Schee (INSOL Europe) discussed how researchers can connect with practitioners through Eurofenix, underlining that YANIL is the future of insolvency law.
Subsequent presentations delved into the substance of insolvency and restructuring law: Fabian Kratzlmeier (University of Chicago) examined why the tax creditor is not simply another non-adjusting creditor, such as a tort victim. Giulia Pancioli (University of Ferrara) analysed the EU pre-pack proposal, highlighting how it addresses interests extending beyond those creditors. Pier Mario Lupinu (University of Glasgow) discussed the challenges of achieving harmonisation in transaction avoidance and its implications for the single capital market. Carla Avolio (University of Bologna) explored the intersection between creditors' rights and environmental protection, introducing a temporal framework for assessing balance. Michal Elbaz (NYU School of Law) drew attention to the role of data as an asset in insolvency. Luca Lamanna (Sapienza University of Rome) presented on early warning tools, suggesting that artificial intelligence could make them more proactive. Vayshree (Gujarat National Law University) discussed the potential for an Asian Insolvency Regulation, drawing lessons from the EU. Noor Mendonck (Ghent University) focused on sectoral insolvency and options or sectors that affect public interest. The Workshop benefitted from the comments by discussants Matthew Chippin (University of Leeds), Jennifer Gant (University of Derby), Charles Mak (University of Bristol), Lana Gotvan (University of Ljubljana), Eugenio Vaccari (Royal Holloway, University of London), and Gauthier Vandenbossche (Ghent University).
In addition to the academic programme, participants enjoyed a group dinner and a visit in Vienna, which provided an opportunity for informal exchange and community building within the YANIL network.
This event was made possible thanks to the support of the Foundation Bob Wessels Insolvency Law Collection (BWILC). The YANIL Board extends its gratitude to all supporters and participants and looks forward to continuing these enriching academic exchanges in future gatherings.
New YANIL Board 2025
The Workshop also marked the conclusion of Gert-Jan Boon's term on the YANIL Board. The YANIL Community extends its sincere thanks for the dedicated service and longstanding contributions to the network. Fabian Kratzlmeier has joined the YANIL Board aiming to continue the initiatives and bring new perspectives.
The YANIL Board consists of: Giulia Ballerini (Chair), Guillem Gabriel-Pizarro, Fabian Kratzlmeier, Vasile Rotaru, Jonatan Schytzer, Defne Tasman.
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Last updated 8 October 2025 - edited 6 November 2025
YANIL News: YANIL Launches the 3rd edition of the Academic Prize for Innovative and Outstanding Research 2025
Submission deadline: 31 October 2025
YANIL is pleased to announce the launch of the YANIL Research Prize for Innovative and Outstanding Research - 3rd edition. With this Prize, YANIL aims to put the limelight on the excellent research produced by younger academics in the field of European insolvency and restructuring law.
YANIL, a branch of the INSOL Europe Academic Forum (IEAF), provides a lively and supportive network for younger academics to grow their academic talents. In pursuit of its objectives, various initiatives to present and publish research have been developed in recent years. A new challenge pressing YANIL is to ensure that the research of younger academics enjoys the attention it deserves and is disseminated as widely as possible. The refreshing ideas of younger academics, thanks to new questions, methods, or solutions proposed, are considered crucial for the development of the academic debate. With this Prize, YANIL aims to raise awareness of their research and support them in pursuing an academic career.
Shifting the limelight to your research
To raise the visibility of your work, the Prize offers several opportunities to showcase research:
- In the second round, shortlisted candidates will prepare a short video presenting the key findings of their research - These will be published on the websites of YANIL/INSOL Europe and BWILC
- The first prize winner will also be invited to present their research at a YANIL research webinar.
- Prizes include: 1st place (EUR 500), 2nd place (EUR 350), 3rd place (EUR 250).
How to participate
The 2025 YANIL Prize will take the form of a two-stage research competition. For more information on the eligibility requirements and selection process, please read the 2025 Competition Guidelines and Rules.
1. First round
Younger academics are invited to submit their research output that has been published between 1 January 2024 and 1 September 2025 to yanil@insol-europe.eu
Submission Deadline: 31 October 2025
2. Second round
Selected candidates will be invited to record a short video presenting their research findings.
⇒The 2025 Competition Guidelines and Rules For The 3rd Edition of the Prize Can Be Found Here.
The Jury consists of the YANIL Board (Giulia Ballerini (YANIL Chair); Gert-Jan Boon, Guillem Gabriel-Pizarro, Vasile Rotaru, Jonatan Schytzer, Defne Tasman) and a member of the INSOL Europe Academic Forum's Board. The Prize is made possible with the kind financial support of the Foundation Bob Wessels Insolvency Law Collection (BWILC)
Last updated 24 September 2025
YANIL News: YANIL Research Webinar Series pt. 7
On 11 April 2025, YANIL hosted a Research Webinar featuring Dr Narine Lalafaryan (University of Cambridge). Narine presented her research on emerging practices in the private debt market and her paper "Chameleon Capital".
The paper examines the development of modern hybrid instruments, braided equity and debt structures, and combinations thereof, which are designed in response to the insolvency regime.These innovations blur the traditional boundary between debt and equity in commercial practice. The presentation explored the implications of this phenomenon for corporate governance, the financing of distressed firms, and the operation of insolvency law. The presentation was followed by a YANIL Mingle, where attendees were engaged in discussions and a brainstorm session on the presentation. The attendees were provided with the opportunity to ask questions. Thank you to Narine Lalafaryan for the engaging presentation, and to everyone who joined and contributed to the discussions.
Last updated 20 April 2025
YANIL News: YANIL Research Webinar Series pt. 6
On 7 March 2025, YANIL hosted a Research Webinar featuring the YANIL Research Prize 2024 Winner: Dr Charles Ho Wang Mak (Robert Gordon University). Charles presented his research on sovereign debt restructuring (SDR) reforms and his paper "Evaluating Reform Proposals in Sovereign Debt Restructuring: A Path Towards Resilience and Fairness". He examines three key approaches to assess the most effective framework for resilience and fairness in SDR governance: centralized statutory, decentralized contractual, and model law. The presentation was followed by a YANIL Mingle, where attendees were assigned to breakout rooms for informal discussions and for a brainstorm session on the presentation. At the plenary session, the attendees were provided with the opportunity to ask questions. Thank you to Charles Mak for his insightful presentation, and to everyone who joined and contributed to the discussions.
Charles' video submission for the YANIL Research Prize is available on YANIL's YouTube Channel: www.youtube.com/@YANIL_IE
Last updated 10 March 2025
YANIL News: YANIL Research Prize Winner 2024
YANIL is pleased to announce that the winner of the 2024 YANIL Prize is Mr. Charles Ho Wang Mak for his paper: "Evaluating Reform Proposals in Sovereign Debt Restructuring". His paper evaluates proposals for reforming sovereign debt restructuring (SDR) frameworks, comparing three key approaches: the centralised statutory approach, the decentralised contractual approach, and the model law approach. It assesses whether a harmonised international treaty is preferable or if a flexible, pluralist approach is more effective. Ultimately, the paper supports the model law approach as the most promising path for creating a comprehensive SDR governance framework, providing criteria for evaluating proposals and addressing unresolved challenges. Congratulations to Charles on this well-earned recognition!
The winners' video is available on YANIL's YouTube Channel: www.youtube.com/@YANIL_IE
About the YANIL Research Prize
YANIL, a branch of the INSOL Europe Academic Forum (IEAF), provides a lively and supportive network for younger academics to grow their academic talents. In pursuit of its objectives, various initiatives to present and publish research have been developed in recent years. A new challenge pressing YANIL is to ensure that the research of younger academics enjoys the attention it deserves and is disseminated as widely as possible. The refreshing ideas of younger academics, thanks to new questions, methods, or solutions proposed, are considered crucial for the development of the academic debate. With this new Prize, YANIL aims to raise awareness of their research and support them in pursuing an academic career.
Last updated 10 February 2025
YANIL News: 5th YANIL Workshop on Restructuring and Insolvency Law in Naples, Italy 2024.
On 1 and 2 October 2024, YANIL's 5th Annual Research Workshop on Restructuring and Insolvency Law took place, this time in Naples, Italy. YANIL was hosted by the University of Napoli Federico II, where 10 researchers presented their research to 30 attendees.
Workshop
This year's sessions featured ten engaging presentations from early-career academics who explored a wide range of topics within insolvency and restructuring law, as well as its intersections with company law, private international law, and contract law.
The first session was moderated by Jonatan Schytzer (Uppsala University) and Guillem Gabriel-Pizarro (European University Institute) covering a range of topics. Speakers included Arwin Tavakolnia (University of Amsterdam) on the position of future claimants in mass tort reorganizations; Francesco Marotta (University of Padua) on the judicial review of directors' duties; Diego Pessoa (Portuguese Catholic University) on the importance of balance sheet insolvency; Joël Lozeman (Leiden University) on the fair distribution of reorganization value. The second session was chaired by Giulia Ballerini (Padua University) and included presentations on insolvency proceedings against foreign investors and investment treaty protection standards by Hosna Sheikhattar (Leiden University); comparisons between restructuring and bankruptcy in Iran, Italy, and Germany by Seyed Milad Mahmood Kashani (University of Naples Federico II). The third session was moderated by Emilie Ghio (University of Edinburgh). The speakers included Bodine Kramer (University of Amsterdam) on security rights on shares in private limited liability companies comparing Dutch, German, and American laws; Stefano Brighenti (University of Padua) on legal capital and insolvency law; Lana Gotvan (University of Ljubljana) on the initiation problem in insolvency law. The workshop also featured innovative poster presentations by Jaime Vázquez García (Autonomous University of Madrid) and Samuel Biresaw (University of New England).
The Workshop concluded with a dinner. On the following day, attendees enjoyed a social tour of the underground treasures of Napoli Sotterranea, fostering closer ties and deeper connections. The Annual YANIL Research Workshop was followed by the Annual IEAF Conference 2024 in Sorrento, Italy.
The event was not just about presentations; it facilitated vibrant discussions on research, methodologies, and findings, providing a fertile ground for academic growth and networking. This successful assembly was made possible thanks to the support of the Foundation Bob Wessels Insolvency Law Collection (BWILC). The YANIL Board extends its gratitude to all supporters and participants and looks forward to continuing these enriching academic exchanges in future gatherings.
New YANIL Board 2024
A significant transition in the YANIL Board took place during the workshop as Gert-Jan Boon (Leiden University) stepped down as Chair of YANIL after several years of dedicated service, passing the baton to Giulia Ballerini. Additionally, Emilie Ghio concluded her impactful term, with Defne Tasman (University of Antwerp) stepping into the role and promising to continue the forward momentum. The YANIL Board consists of: Giulia Ballerini (Chair), Gert-Jan Boon, Jonatan Schytzer, Guillem Gabriel-Pizarro, Vasile Rotaru, Defne Tasman.
Last updated 23 December 2024
YANIL News: YANIL Research Webinar Series pt. 5
On 5 November 2024, YANIL hosted another thought-provoking Research Webinar featuring Mr Gauthier Vandenbossche (Ghent University).
Gauthier presented his research, "Bankruptcy Proceedings of Empty Estates: A Time Driven Activity Based Costing-Analysis for the Trustee". This insightful session delved into the complex issue of trustee fees in cases of empty estates, with a particular focus on Belgium's state funding system for trustees. A pressing challenge in estate management is the "empty estate problem", where trustees are tasked with managing estates that have no or insufficient assets to cover their fees. Belgium has implemented an innovative solution through a state-funded system that ensures trustees receive a fixed fee of €1,000 (indexed) for managing such estates, regardless of the workload. Gauthier's paper investigates how this fixed fee aligns with the actual economic costs incurred by trustees in these situations, offering insights into the system's effectiveness. The presentation was followed by a YANIL Mingle, where attendees were assigned to breakout rooms for informal discussions and for a brainstorm session on the presentation. At the plenary session, the attendees were provided with the opportunity to ask questions. Thank you to Gauthier Vandenbossche for his excellent presentation, and to everyone who joined and contributed to the discussions.
Last updated 23 December 2024
YANIL News: YANIL Research Webinar Series pt. 4
On 16 May 2024, YANIL hosted the 4th Research Webinar featuring Mr Guillem Gabriel-Pizarro (European University Institute).
Guillem presented his paper titled, "Mirroring the American Bankruptcy Code? IP Licenses in the European Insolvency Harmonization Project" published in GRUR international (volume 73 issue 2, February 2024). His comprehensive analysis examines the treatment of IP licenses under the European Commission's new Proposal for a Directive (2022/0408/COD), which aims to harmonize certain aspects of insolvency law.
In his analysis, Guillem focuses on the proposed regime of going concern sales of the debtor’s business (or part thereof) through ‘pre-pack proceedings.’ He explores how this approach aligns with the US Bankruptcy Code, which served as a significant inspiration, and incorporates examples from insolvency practices in various EU Member States. The paper critically evaluates the adequacy and effectiveness of the proposed specific regulations for IP licenses within insolvency proceedings. Guillem concludes with strategic amendments to enhance the Proposal, advocating for a deeper engagement in the broader debate over the treatment of IP licenses in European insolvency legislation, highlighting the need for thoughtful and effective legislative adaptationsThe presentation was followed by a YANIL Mingle, where attendees were assigned to breakout rooms for informal discussions and for a brainstorm session on the presentation. At the plenary session, the attendees were provided with the opportunity to ask questions. Thank you to Guillem Gabriel-Pizarro for his wonderful presentation, and to everyone who joined and contributed to the discussions.
Last updated 23 December 2024
On 10 and 11 October 2023, YANIL's third Workshop took place in Amsterdam, the Netherlands. This workshop brought together researchers and early career academics to present their research on various insolvency and restructuring topics.
The second panel was chaired by 
YANIL Board 2023
On 21 June 2023, YANIL welcomed Associate Professor Sjur Swensen Ellingsaeter (BI Norwegian Business School) to kick start the YANIL Research Webinar Series. 
YANIL Board 2022
