Technical Content


The INSOL Europe Technical Officer collate a wide variety of materials from members around Europe which are published on the pages of the Technical Content of the INSOL Europe website.

You can contact the Technical Officer via email if you wish to contribute to the Technical Content of the INSOL Europe website.

Copyright Notice: Materials available on this website are subject to copyright and may only be reproduced with the express permission of the copyright owner. Please contact Caroline Taylor if you have a query.
 
COVID-19 urges legislators to adapt insolvency legislation

CERIL Executive publishes Statement on COVID-19 and insolvency legislation
 
The COVID-19 (corona) virus has reached pandemic status. It currently spread over the world is expected to infect a majority of all people within the next month(s), according to health experts. The medical urgency justifies the current extraordinary measures taken by many governments. At the same time, these measures also have devastating effects on businesses.
 
The Executive of Conference on European Restructuring and Insolveny Law (CERIL) is deeply concerned with the ability of existing insolvency legislation to provide adequate responses to the extremely difficult situation in which many companies may find themselves in the COVID-19 (corona) crisis. In a CERIL Executive Statement, it calls upon EU and European national  legislators to take immediate action and adapt insolvency legislations  where necessary in light of the current extraordinary economic situation and to prevent unnecessary bankruptcies of  entrepreneurs.
 

The Executive of CERIL recommends the following two steps to be taken immediately by European national legislators:
  • Step 1: Suspend the duty to file for insolvency proceedings based on over-indebtedness
  • Step 2: Respond to the illiquidity of businesses

In addition, the EU and national legislators are urged to consider measures regarding:
  1. Interim financing;
  2. Suspending the duty to file based on the inability to pay;
  3. ‘Hibernation’ for (small) businesses, and
  4. Supporting the livelihood of entrepreneurs and their employees.
 
 
The full CERIL Executive Statement 2020-1 is attached and can also be downloaded here. We hope it may assist legislators in this urgent corona crisis, also in taking (further) measures regarding adapting insolvency legislation.
EU Directive on restructuring and insolvency (2019)

 

Relevant information on the EU Directive on restructuring and insolvency is available here.
 

 
Brexit publications
 


Relevant publications relating to the impact of Brexit on Cross-Border Insolvencies are available here.

 


U.S.B.C. Chapter 15 Database


Relevant information on the Chapter 15 Database of U.S. Cross-Border Cases is available here.
 

 



 

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