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INSOL Europe news and offers
April 2020: Conference News & Updates

Dear Members

The theme of our Annual Congress in Sorrento was “Towards a New World”. Kudos to the Technical Committee for choosing a theme that hits the nail right on the head… we are all moving towards a new world. Rest assured – INSOL Europe is also moving towards this new world.

You may have received the announcement of the cancellation of the Annual Congress in Sorrento and which also is brought in this newsletter. This was a very tough decision to make, but the right decision, given the current situation, to safeguard the health and wellbeing of our members.

I am sure that I am not the only one who, with anticipation, looked forward to visiting beautiful Sorrento and therefore is very disappointed about not having this opportunity to follow the footsteps of Ulysses. I am delighted to inform you that a decision was made at the recent Council meeting to choose Sorrento as the venue for our Annual Congress in 2024, the venue for the 2021 Congress being Dublin, for the 2022 Congress Dubrovnik and the venue for the 2023 Congress being Amsterdam.

As you also will see below, we are working hard on a series of webinars which we look forward to presenting to our membership in May. We cannot meet in person, but we will ensure that we can meet virtually and share thoughts, ideas and experiences.

Several jurisdictions in Europe are enacting insolvency reforms in order to assist businesses in dire straits due to the COVID-19 crisis. INSOL Europe is collaborating with Lexis Nexis on a tracker of these reforms (see below), and I invite you to visit the tracker on the INSOL Europe website. A huge thankyou to all INSOL Europe members who are and will be contributing to the tracker.

May will also see the launch of the new logo of INSOL Europe – a modern logo which epitomizes the association with almost 40-year roots and which continues to evolve and reinvent itself, determined to stay relevant to its members.

Can't wait till May!

Piya Mukherjee
President of INSOL Europe



Piya Mukherjee
President of
INSOL Europe


This issue is kindly sponsored by:


DLA Piper is a global law
firm with lawyers located
in more than 40 countries throughout the world.

Annual Congress 2020 Sorrento: Important Update

Important update from our President 
Coronavirus, or COVID-19, has been sweeping the globe since late 2019. The World Health Organisation together with National State Centres for Disease Control have issued emergency advice and recommendations about the Coronavirus epidemic. The risk of transmitting airborne viruses is greatly increased in large crowds of people and National States around the world have gone into lockdown with travel having all but ceased because of it. 

In the circumstances, coupled with the uncertainty of how travel and social distancing is going to be regulated post lock down, the Executive of INSOL Europe feels that we cannot go ahead with our 2020 Annual Congress in Sorrento and has made the very difficult decision to cancel the event. This will be the first time in our 39 year history that we have had to do this. However we are all in unprecedented times and must take the health and safety of all involved in the congress very seriously. 
Next steps – How to turn a negative into a positive

We want to continue to add value to your membership benefits and understand that now, more than ever, you will want to share ideas and learn how other countries are handling this situation. With that in mind we will soon be offering you a free web series dedicated to COVID19, in the form of short webinars, incorporating the challenges faced by different jurisdictions in adapting the insolvency and restructuring  framework. Additionally, we are working on the production of a series of indepth virtual seminars to be launched later in the year. As soon as these are available we will notify you. 
In the meantime, on behalf of the Executive, we would like to thank you all for your continued support of INSOL Europe and offer our specific thanks to the Sorrento Technical Committee chaired by Giorgio Corno and Simeon Gilchrist who have worked tirelessly to produce an exceptional programme. We are also very grateful to all our sponsors, who continue to support INSOL Europe in these challenging times.   
Until we meet again! 
For and on behalf of the INSOL Europe Executive 

New: COVID-19 Tracker of Inolvency Reforms

A tracker of insolvency reforms globally produced by Lexis Nexis in partnership with INSOL Europe is now available on our website.

We look at various countries which are expediting reforms to their restructuring and insolvency laws, temporarily suspending onerous insolvency law provisions, increasing limits for statutory demands, suspending enforcement powers and introducing other measures to deal with the Coronavirus (COVID-19) crisis. 

As the situation is rapidly evolving with more countries adding new measures daily, you should contact local lawyers in the relevant jurisdiction to check the current measures in force.

Our thoughts are with our colleagues around the world impacted by COVID-19.

The 'Conference on European Restructuring and Insolvency Law' (CERIL) has published an Executive Statement 2020-1 on COVID-19 and insolvency legislation which can be found on our Technical Resources website.

New: Guidance Note on the Implementation of the EU Directive

INSOL Europe has published a Guidance Note on the Implementation of the EU Restructuring Directive 2019/1023 on Restructuring and Insolvency. 

Download the Guidance Note here

Written by INSOL Europe members Tomas Richter (Clifford Chance and Charles University, Prague) and Adrian Thery (Garrigues, Madrid), the note offers technical insights and policy considerations relevant to the implementation of the EU Restructuring Directive on the key points of classification of claims, voting, and confirmation of restructuring plans, including by way of a cross-class cram-down.

In the course of 2020, INSOL Europe plans to publish several guidance notes on Directive 2019/1023 with the aim of assisting EU Member States with: 

  • putting the restructuring frameworks mandated by the Directive in place as soon as possible where no similar restructuring frameworks exist, in a manner that will be useful to their credit and other markets strained by the Covid-19 epidemic; or 
  • where equivalent restructuring frameworks do already exist, refining and adapting them to the Directive.

The Guidance Notes are a product of the "Directive Project" which was launched in March 2019. For further information please visit our website.

Special Offers for Members of INSOL Europe

We have arranged many special offers for our members, including exclusive discounts on publications and events as well as special rates for advertising in Eurofenix, our quarterly journal. These are often time limited and updated regularly on the Members Offers section of the website.

Offers are changed regularly and currently include:

  • 20% discount off selected titles from Oxford University Press
  • 10% discount off an individual subscription to Global Restructuring Review
  • A discounted 'Pro' profile on SpeakerHub
Read more


INSIDE Story: Cyprus - Relief for Directors in the Coronavirus Crisis

Whilst the UK is taking proactive measures to aid ailing companies and businesses from the aftermath of the coronavirus outbreak, one cannot help but wonder what the Cyprus government will do since the Examinership regime introduced as part of the rescue culture in 2015, has failed miserably. 

The UK may have been slower off the mark than many other countries in their fight against coronavirus, nevertheless, the authorities have now ramped up the speed and scale of the measures being implemented to protect their national health system and the economy. Chris Iacovides and Andri Antoniou report for INSOL Europe. Read the full story and other articles here.

If you would like the opportunity to have your Inside Story published in a future edition, please email Communications Manager, Paul Newson for details.

New: Spring Eurofenix Published

Eurofenix is INSOL Europe's quarterly journal featuring 48 pages of news, country reports, conference reports and in-depth articles from a broad range of contributors.

The Spring 2020 edition has now been published to all members who will have received their printed copy. It can also be viewed online here.

The new edition was finalised just as the Coronavirus pandemic was taking full effect. The Summer edition will focus on the impact of COVID-19 on insolvency legislation in various jurisdictions, featuring country reports and comparative articles.

If you would like to contribute to the next edition, pleae click here or contact Paul Newson.

To browse our collection of back issues, please visit our website here.

Richard Turton Award 2020: Now open for entries

The Richard Turton Award provides an educational opportunity for a qualifying participant to attend an INSOL Europe Annual Congress, all expenses paid.

The award is open to applicants who:

  • Are a national of a developing or emerging nation;
  • Work in or are actively studying insolvency & restructuring law and practice;
  • Students satisfying the nationality requirement, but studying in another country, are also eligible to apply;
  • Are under 35 years of age at the date of the application; and
  • Have sufficient command of spoken English to benefit from the conference technical programme.

The successful applicant will be asked to write a paper of 3,000 words on a subject of insolvency and turnaround to be agreed with the panel. This paper will then be published in summary in one or more of the Member Associations' journals and on their websites.

For full details including the closing date for entries, visit our website here.

Date for your diary: Joint Fraud Conference, 27 October 2020

We are pleased to announce that we will be holding a joint conference with R3 and the Fraud Advisory Panel in London on 27 October 2020 at the Chartered Accountants’ Hall (Moorgate Place), London. For updates on this event, please visit our website.

AIJA Winter Seminar, Chamonix, 24-27 March 2021

The AIJA Insolvency Commission and INSOL Europe’s Young Members Group invite you to a winter seminar in the beautiful mountain resort of Chamonix, France.

We are delighted to be working together again on a seminar which will give participants the opportunity to discuss the latest developments in the insolvency field and network with professionals from both organisations and many jurisdictions.

The academic program will take place in the mornings, leaving afternoons free to take part in winter sports, enjoy stunning views of Mont Blanc, or simply for relaxation in the spa.

The social programme will take full advantage of the alpine activities and vibrant nightlife of Chamonix, allowing attendees to strengthen their professional network in this fun and unusual setting.

Further information will be posted on the AIJA website when available.

We welcome feedback, news and story ideas for future newsletters. 

Please send your suggestions to Paul Newson, Communications Manager,

INSOL Europe, PO Box 7149, Clifton, Nottingham. NG11 6WD. Tel: +44 115 8780584
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Disclaimer: This newsletter is sent to members of INSOL Europe. No responsibility legal or otherwise is accepted by INSOL Europe for any errors, omissions or otherwise. The opinions expressed in the articles that appear are not necessarily shared by any representative of INSOL Europe.