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    News from INSOL Europe
    05 July 2018
    The Technical Committee for the INSOL Europe 2019 Congress which will be held in Copenhagen from 26-29 September 2019 invites all INSOL Europe members to express their interest to participate as speakers at our flagship event.

    All expressions of interest should be sent to the Secretary to the INSOL Europe Conference Technical Committees, Emmanuelle Inacio, and should indicate: 

    1. the speaker’s nationality, affiliation and qualifications,
    2. the topic on which the speaker would be interested in speaking, and 
    3. a short statement as to what unique or compelling perspective the speaker would like to bring to the congress. 

    The Technical Committee seeks in particular proposals from speakers who have not been speakers at the last two Annual Congresses. 
     
    Expressions of interest should be sent as early as possible, and no later than 15 September 2018. All expressions of interest will be considered by the Technical Committee, although due to the large number the Committee expects to receive, the Committee likely will not be able to accommodate all, or even most, requests.

    Michala Roepstorff (Plesner, Denmark) & Florian Bruder (DLA Piper, Germany)
    Co-chairs of the INSOL Europe’s 2019 Copenhagen Congress

    01 July 2018

    Following INSOL Europe’s EECC conference in Riga, Latvia, the co-chairs of the Young Members Group wanted to give all of you a short update on activities and news around this event.

    The conference started on Thursday evening with a drinks reception and dinner at the roof-top restaurant of the Gutenberg Hotel, which is located in the heart of Riga’s old town. Delegates, amongst them a large number of YMG members, were greeted by sunny and clear weather and enjoyed a great evening, which ended at a Cuban cocktail bar around the corner 

    The conference itself, centered around Balance of Interests: Restructuring, Insolvency and Second Chance, started Friday morning and was attended by over 100 delegates from across Europe. A wide range of photographs can be found in INSOL Europe’s Event Gallery: https://www.insol-europe.org/gallery/2018-riga-latvia

    YMG members were present on panels. We believe that participation of young professionals as speakers / panelists has to be promoted and has to be improved. We therefore highly encourage you to let us know if you would like to present a topic at some future INSOL Europe event and will do everything to assist YMG members in that regard and support them (a call for contribution has been launched for the Congress in Copenhagen – September 2019). 

    Last but not least, the traditional YMG drinks reception, kindly sponsored by Schiebe & Collegen, took place on Friday evening at the Radisson Blu’s Skyline Bar, which again was a great opportunity to network and exchange with young insolvency professionals from all over Europe.

    Particular mention is to be made with regard to AIJA (International Association of Young Lawyers (www.aija.org). Not only did three AIJA representatives take part in the conference. Also, alongside the conference, a meeting between representatives of AIJA’s insolvency group and YMG co-chairs took place to discuss potential cooperation and future joint projects (please see pictures enclosed). As a result of this meeting, we are excited to announce that AIJA’s insolvency group and Insol Europe will host a joint event in June 2019 on the beautiful island of Mallorca that will focus on young insolvency professionals, not only as participants but especially as speakers / panelists (yes, indeed! Let us know if you are interested). We will hopefully be able to update you on details after INSOL Europe’s Annual Congress in Athens.

    If you have any questions or comments on the above please do not hesitate to contact one of the YMG’s co-chairs who will be more than happy to provide you with answers / our thoughts.

    Co-Chairs of the Young Members Group:
    Sabina Schellenberg (SSchellenberg@froriep.ch)
    Georges-Louis Harang (harang@hocheavocats.com) 
    Anne Bach (ABach@GOERG.de)

    28 June 2018
    The 7th 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.
    13 June 2018
    The INSOL Helsinki Joint One Day Seminar 2018 which was jointly organised by INSOL International, INSOL Europe and the Finnish Insolvency Law Association (FILA) was the occasion for the audience to be informed on the main features of the EU Directive proposal on restructuring, insolvency and second chance (‘the Directive proposal’) and to discuss with the panellists the rationale of the tools contained into the Directive proposal and the risk that it could be (too) easily used at the expense of creditors.
     
    The One Day Seminar was also the occasion to share two success stories from Finland (national operational business restructuring) and from France (international financial restructuring) as well as the latest developments on group insolvencies under the application of the EIR Recast (in particular the German/Austrian ‘NIKI cases’) and the current work undertaken by the UNCITRAL Working Group V and the establishment of a so-called ‘planning proceeding’.
     
    The seminar ended with a focus on two important issues in the Nordic region, namely environmental liabilities in bankruptcy proceedings and debt-equity swaps.

    A full report by Myriam Mailly can be read here.
    25 April 2018
    By a judgement of 4 April 2018, the Dutch speaking commercial court of Brussels opened insolvency proceedings for three main companies of the Belgian well known Flamant Group : Flamant SA, Flamant Group SA and Flamant Retail Belgium SPRL.

    Flamant is a lifestyle and interior design brand, founded more than 35 years ago, and offers a wide range of styles and products. In Europe, Flamant has become a reference brand for exclusive, charming and timeless interiors. The company experienced a rapid growth which led to a turnover of 44 million euro in 2008. His Majesty Filip, King of the Belgians, awarded the company with a royal warrant. The company has the following sales channels: 7 own stores in Belgium and France, more than 200 client-resellers in more than 40 countries and an online store.

    In 2009 the Flamant Group and its branches encountered financial difficulties due to the global economic and financial crisis, which resulted in a drop in turnover. On 4 April 2018 the court ordered a judicial reorganisation by transfer under judicial authority and appointed Bart De Moor as insolvency practitioner, in view of a transfer of the undertakings and continuation of the activities.

    The proceedings include a stay until 13 June 2018. Bids are awaited for the entire undertakings or parts of it and large publicity is made towards potential interested purchasers. Bid may be made for the whole undertakings of the companies involved, including its subsidiaries, or for certain activities or a combination thereof. Upon proposition of the insolvency practitioner the Brussels court of commerce will decide on the authorization of the transfer to one or more purchasers in view of the continuation of the activities without interruption. The decision is made with the continuation of the employment and the creditors’ rights and interests as main criteria. Upon closing of the insolvency proceedings and a successful transfer of a major part of the viable activities the initial legal entities in reorganization will presumably be liquidated.

    For more information contact Mr. Bart De Moor, lawyer at STRELIA,
    Email: bart.demoor@strelia.com