Working with our Country Coordinators, we have started a programme to develop a close relationship with the relevant National Association (or similar body) in each jurisdiction covered by our members. With these agreements, we hope to increase the flow of information between the bodies, and work together on future events (such as the ARE conference reported below).

We are very happy to report that most recently we have signed with the German association 'Distressed Ladies' and APDIR in Portugal, bringing the total up to 9 agreements, with many more in the pipeline.

A full list is shown below and on our website here.

• Belgium – Reseau CAP
• Croatia – Husu
• Germany – Distressed Ladies Association
• Ireland – Restructuring & Insolvency Ireland
• Italy – Consiglio Nazionale dei Dottori Commercialisti e Degli Esperti Contabili
• France – L’Association pour le Retournement des Entreprises
• Netherlands – INSOLAD
• Portugal - APDIR
• Romania – UNPIR Cluj Branch

Since 2022, 9 cooperation agreements have been made between INSOL Europe and local associations. One of them was signed between INSOL Europe and the French association ARE (“Association pour le Retournement des Entreprises”) which is a professional turnaround association gathering over 300 members in France.

On 5 December 2024, ARE & CEDAG (“Centre des Affaires et Gestion”: the research lab of Paris Descartes University) organised a joint symposium in cooperation with INSOL Europe titled “Cross-views on the EU’s various newly introduced restructuring plan regimes” in the building of Paris Cité University’s School of Medecine (12 rue de l’Ecole de Médecine) classified as a historical monument.

The joint event covered the practical aspects of the transposition of the Directive on Restructuring and Insolvency in Germany, the Netherlands, Spain and France on preventive procedures, the role and powers of shareholders, the composition of classes of affected parties and litigation related to restructuring plans.

Our members Céline Domenget-Morin (WEIL GOSTHAL, France), Hélène Bourbouloux (FHBX, France), Justice Elsbeth de Vos (Rechtbank Amsterdam, The Netherlands), Adrian Théry (Garrigues, Spain), Robert Hänel (Anchor, Germany) and Andreas Spahlinger (Gleiss Lutz, Germany) were speaking at this event.

The last panel of the event gathered representatives of the Ministry of Justice, Ministry of Economics and Finance, the president of the Commercial Court of Nanterre, the director of the CEDAG and the vice-president of ARE to discuss on future developments of French restructuring and Insolvency law as well as on the future Directive harmonising certain aspects of insolvency law.

Our INSOL Europe President Giorgio Corno delivered concluding remarks in French and emphasized on the aim of the agreements between INSOL Europe and local organisations which is to facilitate and stimulate cooperation, support, promotion, exchange of relevant information and organising successful co-labelled events.

On 5 December 2023, EY Luxembourg and Dentons hosted an event focusing on legal updates related to the preservation of companies, the modernisation of bankruptcy law and the implementation of EU Directive 2019/1023. 

The conference included presentations on important aspects of the Belgian and Luxembourg laws and was attended by over 60 delegates.

A panel discussion moderated by John Tan (EY Restructuring Luxembourg) and Martine Gerber-Lemaire (Dentons), with panellists Ivan Verougstraete (Former president, Court of cassation Belgium and Beneluxcourt), Bart De Moor (Strelia, Belgium and INSOL Europe Country Co-ordinator), Andreas Ziegenhagen (Dentons, Germany) and Laurent Fisch explored the experience of neighbouring countries with implementing the European restructuring directive in recent years.

A full report by Laurent Fisch (an insolvency professional based in Luxembourg City) can be read here.

The Autumn 2023 edition of Eurofenix is available to view online, featuring reports, case studies, European law updates and conference news, as well as many other updates.

Featured in the Autumn edition, Thibault Jauffret (Associate, LexField, part of Mourant, Luxembourg) writes on the major reform of the insolvency framework in Luxembourg, implementing the Directive on Preventive Restructuring and Insolvency in an article entitled 'The new mechanics of restructuring in Luxembourg'. 

Take a look at the full article on page 34 of the Autumn edition here.

If you would like to contribute an article to a future edition or are interested in advertising opportunities, please contact publication manager Paul Newson.

Eurofenix is kindly sponsored by Prof.Dr.Pannen

On 26–28 October 2023, the University of Kiel hosted a conference titled “EU Insolvency Law and Third Countries: Which Way(s) Forward?”.

The conference was one of the fruits of a research project coordinated by Professors Alexander Trunk (University of Kiel) and Jasnica Garašić (University of Zagreb) and including over 30 researchers from across Europe and more widely.

Supported by UNCITRAL and financed by the Fritz Thyssen Foundation, the project was also conducted in cooperation with representatives of the European Commission and the Hague Conference on Private International Law (HCCH). At the conference, the first results from the project begun in 2002 were presented and discussed with academics, judges, professionals, policy-makers and researchers. The conference was also preceded by a Young Researchers’ Forum on the morning of 26 October.

Over the three days of the event, many cogent issues were debated, including the lack of a satisfactory framework to deal with cross-border insolvency with an extra-EU effect. The recourse to private international law rules risked divergence in outcomes, albeit giving some scope for the development of international law principles and the further development of comity. Nonetheless, the importance of a coherent approach to third-country impact of insolvencies was seen as a must, particularly to enable cross-border restructurings of globally active business entities. As such, from the conference emerged suggestions that future amendments of the European Insolvency Regulation take these issues onboard and that solutions at the international level also be included in the UNCITRAL and HCCH work programmes.