Guidance Notes


In the course of 2020, INSOL Europe plans to publish several guidance notes on Directive 2019/1023 with the aim of assisting EU Member States with: 
  • putting the restructuring frameworks mandated by the Directive in place as soon as possible where no similar restructuring frameworks exist, in a manner that will be useful to their credit and other markets strained by the Covid-19 epidemic; or 
  • where equivalent restructuring frameworks do already exist, refining and adapting them to the Directive.

Guidance Note #3, November 2020 > Download here
The Implementation of Preventive Restructuring Frameworks Under EU Directive 2019/1023: Procedural features
Barry Cahir & Michael Quinn

INSOL Europe is pleased to publish its third Guidance Note on the implementation of preventive restructuring frameworks under the EU Directive 2019/1023, this time dealing with procedural features.
Guidance Note #2, May 2020 > Download here
The Implementation of Preventive Restructuring Frameworks Under EU Directive 2019/1023: Stay of individual enforcement actions
Ben Schuijling

INSOL Europe is pleased to publish its second Guidance Note on the implementation of preventive restructuring frameworks under the EU Directive 2019/1023, this time dealing with the stay of individual enforcement actions to be enacted pursuant to Articles 6 and 7 of the Directive.
Guidance Note #1, April 2020 > Download here
The Implementation of Preventive Restructuring Frameworks Under EU Directive 2019/1023: Claims, Classes, Voting, Confirmation and the Cross-Class Cram-Down
Tomáš Richter & Adrian Thery

INSOL Europe is pleased to announce the publication of its first guidance note on the implementation of restructuring frameworks under EU Directive 2019/1023 on Restructuring and Insolvency.

Written by INSOL Europe members Tomas Richter (Clifford Chance and Charles University, Prague) and Adrian Thery (Garrigues, Madrid), the note offers technical insights and policy considerations relevant to the implementation of the EU Restructuring Directive on the key points of classification of claims, voting, and confirmation of restructuring plans, including by way of a cross-class cram-down.
The Guidance Notes are a product of the "Directive Project" which was launched in March 2019. INSOL Europe thanks the following members who undertook the highly important task of drafting the Guidance Notes:
  • Adrian Thery (Chair), Garrigues, Madrid, Spain
  • Jean Baron, CBF Associés, Paris, France
  • Rita Gismondi, Gianni, Origoni, Grippo, Cappelli & Partners, Rome, Italy
  • Alberto Nuñez-Lagos, Uría Menéndez Abogados, Cascais, Portugal
  • Michael Quinn, The High Court, Dublin, Ireland
  • Tomas Richter, Clifford Chance LLP and Charles University, Prague, The Czech Republic
  • Ben Schuijling, Radboud University, Nijmegen, The Netherlands
  • Michael Veder, RESOR, Amsterdam and Radboud University, Nijmegen, The Netherlands
  • Evert Verwey, Clifford Chance LLP, Amsterdam, The Netherlands
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