News

The 7^th European Insolvency & Restructuring Congress which was organised by the Insolvency Law and Restructuring section of the German Bar Association (DAV) through its European Working Group in cooperation with INSOL Europe and the ReTurn Association was the occasion for the audience to be informed on the agenda relating to the adoption process of the EU Directive proposal on restructuring, insolvency and second chance (‘the Directive proposal’). While a partial general approach has already been reached, it was important for the Keynote speaker to remind the necessity to reach an agreement between the Council of the European Union and the European Parliament before the European Parliament elections planned in May 2019.
 
A lecture on the need for a doctrinal foundation for the Preventive Framework was then followed by a panel discussion on the Directive proposal where it was emphasised the need to build a common culture of rehabilitation in Europe. The first afternoon workshop focused on challenges of digitisation and legal tech in restructuring and insolvency while the second examined the available options for secured creditors in or out of court in several jurisdictions (Austria, France, Germany, Greece and the Netherlands).
 
The second day of the Congress began with an update on the CJEU and other landmark decisions in European insolvency law. It was followed by a critical overview of the Directive proposal on preventive restructuring frameworks from an Austrian perspective. Before the closure of the Congress, the discussions focused on the cooperation and group insolvencies beyond the scope of the EIR after Brexit and how to create an attractive insolvency hub based on their experience in Germany, Singapore and the US.

A full report by Myriam Mailly can be read here.