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INSOL Europe news and offers
April 2019: Conference News & Updates

Dear Members

April, which is derived, as you would expect, from Latin, and meaning “to open” is I think meant to refer to flowers opening but from my perspective it indicates the opening of a busy period of conferences.

I have just returned from INSOL International’s annual conference in Singapore, which was a very professionally run and well attended event – over 1,000 people including the judicial colloquium and many of the attendees from Europe.  Some of the features of the conference which were innovative and allowed really some good interaction with the audience could be useful for our organisation in the design of future INSOL Europe conferences and will be fed into our conference team.  

It is worth reminding our members about the way in which we interact with INSOL International. INSOL Europe is a member association of INSOL International, which is effectively an association of associations (with currently over 40 national or regional associations) – by joining INSOL Europe you automatically get membership of INSOL International. INSOL Europe is the 4thlargest member association and our relationship with the organisation is currently in very good shape – we cooperate in a number of areas and one of our forthcoming events is a joint one-day conference in Stockholm on 22ndMay, which I am very much looking forward to attending.  

Before the start of the main conference a meeting of Member Associations was organised by the Executive board of INSOL International. I was privileged to attend it with Catherine Ottoway (our current Board representative on the INSOL International Board and former INSOL Europe President). There was a good discussion on many common themes and agreement to share experiences and ideas. Of note was the theme of generally lower numbers of insolvency appointments and legislative moves towards pre-insolvency processes (in or out of Court) in many countries.

Next up is a site visit to Copenhagen and I am looking forward to seeing the venue. I would encourage you to sign up for our Annual Congress as soon as possible as it will be a blockbuster event.

Alastair Beveridge
President of INSOL Europe



Alastair Beveridge
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.












EECC Conference Ljubljana, 6-7 June 2019: 2 months to go!

Navigating the journey of distressed companies

Our 2019 EECC Conference in Ljubljana, Slovenia, is now only 2 months away.

Book here to secure your place and join almost 200 delegates already registered!

We are pleased to announce that our Keynote Speaker is Prof. Marko Simoneti (Department of Legal and Economic Science of the Faculty of Law, University of Ljubljana, Slovenia) and we look forward to his introductory speech to set the tone for the conference.

We have prepared many surprises and we encourage you to come early and stay late. On 6 June (Thursday) there is a pre-conference networking dinner at the restaurant Gostilna na Gradu in the Castle grounds during which the guests can have a taste of both Slovenia’s culinary and music traditions and on Friday evening there is the Young Members drinks reception.

We hope you will take up the many opportunities to enjoy our conference in Ljubljana and we look forward to seeing you there!

Now only 2 months away

Book here today!

Download the brochure
for full details

Annual Congress Copenhagen, Denmark: Registration now open!

INSOL Europe
Annual Congress 

Copenhagen, Denmark 

26-29 September 2019

Registration now open!

Download the Congress Brochure
or Register Online Today! 

Registration for this event
is only available online.


Richard Turton Award 2019 Winner to be invited to attend, all expenses paid.

The Richard Turton Award provides an educational opportunity for a qualifying participant to attend the the Congress and 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 visit our website here.

High-Level Course - Cyprus - Update on Module III

The third and last module of our INSOL Europe High-Level Course on Insolvency in Cyprus took place in Nicosia at the Hilton Cyprus Hotel on Friday 22 March 2019 which was followed by approx. 60 attendees (lawyers, chartered-accountants, insolvency practitioners, bankers and officers).

Module III is a distance training part, when all course attendees need to write an essay on a topic of the choice of the attendee, from a proposed list of International, Comparative International-Cypriot and Cypriot insolvency law topics prepared by the general and local directors.


A committee appointed ad hoc composed of international and national experts review the essays and select the best for each proposed topic. Afterwards, the authors of the best essays are invited to present them in the one-day seminar.
Thus, the one-day seminar began with the analysis of the most relevant concepts of the future directive on preventive restructuring frameworks by Andrie Kypridemou, followed by the challenges surrounding the future transposition of the future directive in Cypriot law by Achilleas Malliotis & Efrosini Monou (Elias Neocleous, Cyprus).

Morfakis P. Koumas & Christoforos Tsekouras (Stelios Americanos & Co, Cyprus) then provided the audience with a comparison of the systems of liability of directors in insolvency between Cypriot law and the UK and German legislations, with special regard to the causal link in directors’ liability for the insolvent company’s debts.

The presentations then moved to Cypriot insolvency law with an exploration of the key deficiencies in the insolvency Cypriot framework conducted by Aphrodite Kyriakidou (APS Debt Servicing Cyprus) & Roula Katsounarou (Nexia Insolv, Cyprus) who made recommendations for reform. Renos Iioannides & Zinonas Kalogirou (KPMG, Cyprus) focused on the unsuccessful examinership in Cyprus and also presented recommendations for improvement.

Alexandru Airinei & Aphrodite Kyriakidou (APS Debt Servicing, Cyprus) explored how directors could be encouraged to seek insolvency advice in advance of creditor action and ways to ensure their accountability.

The last presentation covered a comparative analysis of office holders’ powers (including receiver managers, liquidators in both compulsory and voluntary winding up procedures, examiners and trustees in bankruptcy, in accordance with Cypriot law conducted by Grigoria Kypri & Louiza Sigar (CRI Group, Cyprus).

The brilliant presentations were followed by very interesting and passionate debates with the discussants and the audience and the day ended with a certificate presentation.
The second edition of our INSOL Europe High-Level Course on Insolvency was very successful thanks to the great deal of knowledge of the general director who designed the course, Prof. Ignacio Tirado (Universidad Autonoma de Madrid, Spain / UNIDROIT, Italy) and the high-level of expertise and energy of the local director, Chris Iacovides (CRI Group, Cyprus) and his local team of experts: Andri Antoniou (CRI Group, Cyprus), Irina Mișca (CITR Group, Cyprus), Maria Kyriakou (Elias Neocleous, Cyprus), Panayiota Georgiou, Michalis Loizides and Antonis Rouvas (KPMG, Cyprus) and Andrea Jakes (Bank of Cyprus Public Company Ltd, Cyprus).
We are very proud of our INSOL Europe High-Level Course on Insolvency which is the torchbearer of the harmonisation of restructuring and insolvency practice in Europe!

Visit our website for further information and updates about the next course.
Radu Lotrean & Emma Inacio
Co-chairs of the INSOL Europe High-Level Course on Insolvency

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:

  • 10% discount off the delegate rate for the International Insolvency Forum 2019 in St. Petersburg, Russia
  • 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: The Recent ECB Intervention in Italy

The financial crisis triggered by the collapse of Lehman Brothers (2008) had a significant impact on the stability and solvency of Italian banks. In Italy, the banking crisis emerged at a later stage than in other European countries. This is primarily due to the nature of the investments carried out by Italian banks. To generate profits, Italian banks have traditionally been dependent on loans for commercial activities and state obligations. 

They have been less reliant than other Anglo-American and European entities on subprime loans. It was only with the economic crisis (and the consequential rise of non-performing loans) and the fall of interest rates by the European Central Bank (‘ECB’) that the stability of the Italian banking system was detrimentally affected. 

The deceitful and apparent solidity of Italian banks was signalled by the lack of significant cases of distress until 2012, when the Cassa di Risparmio di Teramo (also known as ‘Banca Tercas’) eventually filed for extraordinary administration, an insolvency procedure under Italian law. Eugenio Vaccari, Lecturer, Essex Law School details the case. Read the full Inside 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.

Dates for your Diary: Forthcoming events
Registration is now open for our joint one-day seminar with INSOL International in Stockholm (Sweden) on 22 May 2019. Register by 10 May to secure your place.
The programme includes sessions on:
  • The implementation of the EU Directive and the practical challenges faced in Nordic countries;
  • Restructuring in the region, focusing on the ongoing Componenta Group restructuring in Finland and Sweden;
  • The impact of Brexit; and
  • Board directors’ liabilities. 
The seminar will culminate with cocktails and dinner at Villa Källhagen, with stunning views of the Djurgårdsbrunn canal and the Nordic Museum.
For more details or to register your place, visit INSOL International's website.



Registration is now open for our insolvency seminar 'Make twilight a new dawn: defensive and offensive strategies in insolvency matters' held in cooperation with AIJA, from 13-15 June in Mallorca. We therefore invite all members under the age of 45 (or thereabouts) to join us and find out the latest on insolvency matters.
Early bird tickets are limited and only available until Tuesday, 30 April (included).

The German Bar Association's (DAV) Working Group Europe, as part of the DAV’s Practice Group on lnsolvency Law and Restructuring, is pleased to announce its 8th European lnsolvency Law and Restructuring Congress (EIRC) in Brussels from 27 to 28 June 2019, jointly organized with INSOL Europe.

This conference offers a unique forum for leading insolvency and restructuring experts to discuss the hot topics of national and cross border insolvency and restructuring proceedings and enable delegates to hear directly from high ranking members of the European Commission.

A main feature of this year’s congress will be the draft EU directive on pre-insolvency restructuring. Since Member States will soon have to translate the directive into national legislation, it is worth looking across national borders and learning from the implementation discussions abroad. Focus will be on the United Kingdom and Brexit, not least in anticipation of the inevitable changes Brexit will bring to our industry. In light of the changes, the debate will again touch on the most effective restructuring forum for future cases as well as on the future of the Common Market as such. 

A full programme and registration details will be published shortly.

For further information, visit the DAV website.


Cross-border restructuring: at a crossroads in the wake of Brexit?
This conference is an analysis of the “cutting edge” of the international restructuring sphere. The incredibly fast-paced and dynamic qualities of the sector mean we must adapt and change with it. 
Again and again this conference has proved that it is ahead of the curve, anticipating the upcoming trends in the market and providing detailed insight into them. This year will be no different. If you want to stay ahead of the game, attendance is a must. The conference is worth 8 CPD points.

The programme will include:

  • Detailed cross-border case studies of two of the most important cross-border cases of recent years, Agrokor and Steinhoff, from some of the key players in both.
  • A panel session on the NPL landscape, the new tools to weather it and the new players entering the market.
  • A panel session on the different approaches being taken in the UK and Europe in regard to pre-insolvency procedures and the potential for this to be a new battle ground.
  • An international line up of speakers to be announced...
  • PLUS: Complimentary drinks reception!

Visit the R3 website for further information or to register your place.



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.