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The 4th Joint Fraud Conference triumphs again in London

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Update from the 63rd Session of UNCITRAL Working Group V, Vienna, December 2023

The 63rd session of the Working Group was held from 11–15 December 2023 in Vienna. INSOL Europe was represented by Past President Frank Tschentscher and Florian Bruder (Council Member, Germany). Members…

New EU Proposal for a Directive Harmonising Certain Aspects of Insolvency Law (COM(2022) 702 Final))

On 7 December 2022, the European Commission proposed new measures to further develop the EU’s Capital Markets Union (CMU), including a proposal for a Directive harmonising certain aspects of Insolvency…

Resilience in the face of Adversity – Dubrovnik Congress Report

INSOL Europe's second 'Annual Congress' of the year took place in its usual Autumn slot at the Rixos Hotel in Dubrovnik from 6-9 October with over 360 delegates in attendance, report Myriam Mailly and Paul…

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R3 & INSOL Europe International Restructuring Conference highlights
The R3 & INSOL Europe International Restructuring Conference held in London on 11 July was a magnet for European cross-border restructuring professionals. Over 70 delegates participated enthusiastically, contributing views from a range of jurisdictions including the UK, Netherlands, Ireland, Germany, Austria, Switzerland, France and Portugal.

The theme was “Cross-border restructuring: at a crossroads in the wake of Brexit?”. Case law developments allowed something of a look back, while case studies on Agrokor and Steinhoff provided the reality of the here and now. The view forward covered Directive (EU) 2019/1023 on preventive restructuring frameworks, which came into force on 16 July 2019 and requires member states to implement its provisions within two years. Also forward looking was a comparison of English and Dutch schemes of arrangement, the latter being the subject of a bill just presented to the Dutch parliament and which is expected to pass into law during 2020. Finally, four judges explained the development and planned growth of International Commercial Courts in Ireland, the Netherlands, France and Germany.

It was clear from delegates’ passionate engagement during the breaks and when networking after the conference that the direction of travel through the crossroads was similar for all jurisdictions. Furthermore, Brexit is an unwelcome diversion that will hamper cross-border restructuring involving the UK. Even though professionals will be busier on UK cross-border restructurings, non-UK mechanisms will become increasingly important tools, challenging the dominance of UK professionals in this arena.

A full report will follow shortly in Eurofenix.
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