YANIL News

Newsitems on the Annual YANIL Research Workshops:

• 5th YANIL Workshop - 1-2 October 2024
• 4th YANIL Workshop - 10-11 October 2023
• 3rd YANIL Workshop - 4-5 October 2022
• More...

• 2024 YANIL Research Prize Winner 
• 2023 YANIL Research Prize Winner 
• Launch of the YANIL Academic Research Prize

• Research Webinar Series - pt. 7 on 11 April 2025
• Research Webinar Series - pt. 6 on 7 March 2025
• Research Webinar Series - pt. 5 on 5 November 2024
• More...​

YANIL News: YANIL Research Webinar Series pt. 7

On 11 April 2025, YANIL hosted a Research Webinar featuring Dr Narine Lalafaryan (University of Cambridge). Narine presented her research on emerging practices in the private debt market and her paper "Chameleon Capital". The paper examines the development of modern hybrid instruments, braided equity and debt structures, and combinations thereof, which are designed in response to the insolvency regime. These innovations blur the traditional boundary between debt and equity in commercial practice. The presentation explored the implications of this phenomenon for corporate governance, the financing of distressed firms, and the operation of insolvency law.

The presentation was followed by a YANIL Mingle, where attendees were engaged in discussions and a brainstorm session on the presentation. The attendees were provided with the opportunity to ask questions. Thank you to Narine Lalafaryan for the engaging presentation, and to everyone who joined and contributed to the discussions.

Last updated 20 April 2025

YANIL News: YANIL Research Webinar Series pt. 6

On 7 March 2025, YANIL hosted a Research Webinar featuring the YANIL Research Prize 2024 Winner: Dr Charles Ho Wang Mak (Robert Gordon University). Charles presented his research on sovereign debt restructuring (SDR) reforms and his paper "Evaluating Reform Proposals in Sovereign Debt Restructuring: A Path Towards Resilience and Fairness". He examines three key approaches to assess the most effective framework for resilience and fairness in SDR governance: centralized statutory, decentralized contractual, and model law. 

The presentation was followed by a YANIL Mingle, where attendees were assigned to breakout rooms for informal discussions and for a brainstorm session on the presentation. At the plenary session, the attendees were provided with the opportunity to ask questions. Thank you to Charles Mak for his insightful presentation, and to everyone who joined and contributed to the discussions.
Charles' video submission for the YANIL Research Prize is available on  YANIL's YouTube Channel: www.youtube.com/@YANIL_IE

Last updated 10 March 2025

YANIL News: YANIL Research Prize Winner 2024

YANIL is pleased to announce that the winner of the 2024 YANIL Prize is Mr. Charles Ho Wang Mak for his paper: "Evaluating Reform Proposals in Sovereign Debt Restructuring". His paper evaluates proposals for reforming sovereign debt restructuring (SDR) frameworks, comparing three key approaches: the centralised statutory approach, the decentralised contractual approach, and the model law approach. It assesses whether a harmonised international treaty is preferable or if a flexible, pluralist approach is more effective. Ultimately, the paper supports the model law approach as the most promising path for creating a comprehensive SDR governance framework, providing criteria for evaluating proposals and addressing unresolved challenges. Congratulations to Charles on this well-earned recognition!  

The winners' video is available on YANIL's YouTube Channel: www.youtube.com/@YANIL_IE

About the YANIL Research Prize
YANIL, a branch of the INSOL Europe Academic Forum (IEAF), provides a lively and supportive network for younger academics to grow their academic talents. In pursuit of its objectives, various initiatives to present and publish research have been developed in recent years. A new challenge pressing YANIL is to ensure that the research of younger academics enjoys the attention it deserves and is disseminated as widely as possible. The refreshing ideas of younger academics, thanks to new questions, methods, or solutions proposed, are considered crucial for the development of the academic debate. With this new Prize, YANIL aims to raise awareness of their research and support them in pursuing an academic career.

Last updated 10 February 2025

YANIL News: 5th YANIL Workshop on Restructuring and Insolvency Law in Naples, Italy 2024.

On 1 and 2 October 2024, YANIL's 5th Annual Research Workshop on Restructuring and Insolvency Law took place, this time in Naples, Italy. YANIL was hosted by the University of Napoli Federico II, where 10 researchers presented their research to 30 attendees.

Workshop
This year's sessions featured ten engaging presentations from early-career academics who explored a wide range of topics within insolvency and restructuring law, as well as its intersections with company law, private international law, and contract law.

The first session was moderated by Jonatan Schytzer (Uppsala University) and Guillem Gabriel-Pizarro (European University Institute) covering a range of topics. Speakers included Arwin Tavakolnia (University of Amsterdam) on the position of future claimants in mass tort reorganizations; Francesco Marotta (University of Padua) on the judicial review of directors' duties; Diego Pessoa (Portuguese Catholic University) on the importance of balance sheet insolvency; Joël Lozeman (Leiden University) on the fair distribution of reorganization value. 

The second session was chaired by Giulia Ballerini (Padua University) and included presentations on insolvency proceedings against foreign investors and investment treaty protection standards by Hosna Sheikhattar (Leiden University); comparisons between restructuring and bankruptcy in Iran, Italy, and Germany by Seyed Milad Mahmood Kashani (University of Naples Federico II). 

The third session was moderated by Emilie Ghio (University of Edinburgh). The speakers included Bodine Kramer (University of Amsterdam) on security rights on shares in private limited liability companies comparing Dutch, German, and American laws; Stefano Brighenti (University of Padua) on legal capital and insolvency law; Lana Gotvan (University of Ljubljana) on the initiation problem in insolvency law. 

The workshop also featured innovative poster presentations by Jaime Vázquez García (Autonomous University of Madrid) and Samuel Biresaw (University of New England).

The Workshop concluded with a dinner. On the following day, attendees enjoyed a social tour of the underground treasures of Napoli Sotterranea, fostering closer ties and deeper connections. The Annual YANIL Research Workshop was followed by the Annual IEAF Conference 2024 in Sorrento, Italy.

The event was not just about presentations; it facilitated vibrant discussions on research, methodologies, and findings, providing a fertile ground for academic growth and networking. This successful assembly was made possible thanks to the support of the Foundation Bob Wessels Insolvency Law Collection (BWILC). The YANIL Board extends its gratitude to all supporters and participants and looks forward to continuing these enriching academic exchanges in future gatherings.

New YANIL Board 2024
A significant transition in the YANIL Board took place during the workshop as Gert-Jan Boon (Leiden University) stepped down as Chair of YANIL after several years of dedicated service, passing the baton to Giulia Ballerini. Additionally, Emilie Ghio concluded her impactful term, with Defne Tasman (University of Antwerp) stepping into the role and promising to continue the forward momentum. The YANIL Board consists of: Giulia Ballerini (Chair), Gert-Jan Boon, Jonatan Schytzer, Guillem Gabriel-Pizarro, Vasile Rotaru, Defne Tasman.

Last updated 23 December 2024

YANIL News: YANIL Research Webinar Series pt. 5

On 5 November 2024, YANIL hosted another thought-provoking Research Webinar featuring Mr Gauthier Vandenbossche (Ghent University). Gauthier presented his research, "Bankruptcy Proceedings of Empty Estates: A Time Driven Activity Based Costing-Analysis for the Trustee". This insightful session delved into the complex issue of trustee fees in cases of empty estates, with a particular focus on Belgium's state funding system for trustees.
A pressing challenge in estate management is the "empty estate problem", where trustees are tasked with managing estates that have no or insufficient assets to cover their fees. Belgium has implemented an innovative solution through a state-funded system that ensures trustees receive a fixed fee of €1,000 (indexed) for managing such estates, regardless of the workload. Gauthier's paper investigates how this fixed fee aligns with the actual economic costs incurred by trustees in these situations, offering insights into the system's effectiveness.

The presentation was followed by a YANIL Mingle, where attendees were assigned to breakout rooms for informal discussions and for a brainstorm session on the presentation. At the plenary session, the attendees were provided with the opportunity to ask questions. Thank you to Gauthier Vandenbossche for his excellent presentation, and to everyone who joined and contributed to the discussions.
Last updated 23 December 2024

YANIL News: YANIL Research Webinar Series pt. 4

On 16 May 2024, YANIL hosted the 4th Research Webinar featuring Mr Guillem Gabriel-Pizarro (European University Institute). Guillem presented his paper titled, "Mirroring the American Bankruptcy Code? IP Licenses in the European Insolvency Harmonization Project" published in GRUR international (volume 73 issue 2, February 2024). His comprehensive analysis examines the treatment of IP licenses under the European Commission's new Proposal for a Directive (2022/0408/COD), which aims to harmonize certain aspects of insolvency law. 
In his analysis, Guillem focuses on the proposed regime of going concern sales of the debtor’s business (or part thereof) through ‘pre-pack proceedings.’ He explores how this approach aligns with the US Bankruptcy Code, which served as a significant inspiration, and incorporates examples from insolvency practices in various EU Member States. The paper critically evaluates the adequacy and effectiveness of the proposed specific regulations for IP licenses within insolvency proceedings. Guillem concludes with strategic amendments to enhance the Proposal, advocating for a deeper engagement in the broader debate over the treatment of IP licenses in European insolvency legislation, highlighting the need for thoughtful and effective legislative adaptations

The presentation was followed by a YANIL Mingle, where attendees were assigned to breakout rooms for informal discussions and for a brainstorm session on the presentation. At the plenary session, the attendees were provided with the opportunity to ask questions. Thank you to Guillem Gabriel-Pizarro for his wonderful presentation, and to everyone who joined and contributed to the discussions.

Last updated 23 December 2024

YANIL News: YANIL Research Prize Winners 2023 & Research Webinar Series pt. 3

YANIL is pleased to announce the winners of the 2023 edition of the YANIL Research Prize for Innovative and Outstanding Research. With this Prize, YANIL aims to put the limelight on the excellent research produced by younger academics in the field of European insolvency and restructuring law.

Three Prizes for Three Winners
Research findings should be presented in short videos, submitted alongside the research papers. Winning entries will be published on the YANIL/INSOL Europe and BWILC websites, with an abstract of the paper. Prizes include: 1st place EUR 750 as well as presenting at the YANIL Research Webinar Series; 2nd place EUR 500; 3rd place EUR 250. The Jury consisted of the YANIL Board (Gert-Jan Boon, Giulia Ballerini, David Ehmke, Emilie Ghio, Jonatan Schytzer, and Eugenio Vaccari) and IEAF Chair (Prof. Rodrigo Rodriguez). 

YANIL is pleased to announce that Dr. Fabian Kratzlmeier (Max-Planck-Institute for Tax Law and Public Finance) is the winner of the 2023 edition of the YANIL Research Prize for his paper "Twisted ways to a coherent body of European insolvency law: Coordination deficits between pre-pack proceedings and the EIR". The second prize is awarded to Raghav Mittal (Leiden University) for his paper "Prioritising SME Debtor's Equity Retention: Comparing the Relative Priority Rule and the Fair and Equitable Test". The third prize is awarded to Marco Novara (University of Milan) for his paper "The Trigger Point of Crisis Relevance. Italy's Transposition of Directive 2019/1023: Between a Rigid and Flexible Model".

The winners' videos are now available on YANIL's YouTube Channel: www.youtube.com/@YANIL_IE

Research Webinar Series pt. 3
On 12 March 2024, Fabian presented his winning paper at the 3rd YANIL Research Webinar. His research focuses on the European Commission's latest 2022 proposal for a directive aimed at harmonizing certain aspects of insolvency law, notably including the introduction of a pre-pack procedure under its Title IV. Over the past year, this draft directive has sparked widespread debate concerning its material issues. Yet, its coherence with previous secondary legislation in the realm of insolvency law has largely been overlooked. Fabian's paper explores the interplay between the proposed pre-pack procedure and the EU Insolvency Regulation, uncovering previously unnoticed needs for coordination and potential contradictions. His work is published in Neue Zeitschrift für Insolvenz und Sanierung (NZI) 2023, issue 799. 
The presentation was followed by a YANIL Mingle, where attendees were assigned to breakout rooms for informal discussions and for a brainstorm session on the presentation. At the plenary session, the attendees were provided with the opportunity to ask questions. Thank you to Fabian for his presentation, and to everyone who joined and contributed to the discussions.

About the YANIL Research Prize
YANIL, a branch of the INSOL Europe Academic Forum (IEAF), provides a lively and supportive network for younger academics to grow their academic talents. In pursuit of its objectives, various initiatives to present and publish research have been developed in recent years. A new challenge pressing YANIL is to ensure that the research of younger academics enjoys the attention it deserves and is disseminated as widely as possible. The refreshing ideas of younger academics, thanks to new questions, methods, or solutions proposed, are considered crucial for the development of the academic debate. With this new Prize, YANIL aims to raise awareness of their research and support them in pursuing an academic career.
Last updated 23 December 2024
 

YANIL News: YANIL Research Webinar Series pt. 2

On 22 November 2023, YANIL hosted the second Research Webinar where Ms. Eirini Tsikirka (National and Kapodistrian University of Athens) presented "Vis Attractiva Concursus Europensis - is it really attractiva?". Eirini assessed the use of the vis attractiva consursus principle, as has been establihsed by Article 6 of the European Insolvency Regulation. She discussed whether it succesfully delivered its objectives of concentration of jurisdiction before the insolvency court, and therefore, promote the insolvency proceedings' efficiency. To this end, she distinguished three levels in which vis attractiva concursus can operate (i) civil jurisdiction, (ii) arbitral jurisdiction, and (iii) applicable law. The presentation was followed by a Q&A. Thank you to Eirini for his presentation, and to everyone who joined and contributed to the discussions.

After the presentation, the winners of the YANIL Research Prize were announced by Prof. Rodrigo Rodriguez (INSOL Europe Academic Forum Chair) and Giulia Ballerini. The winners are Dr. Fabian Kratzlmeier (1st place), Raghav Mittal (2nd place) and Marco Novara (3rd place).

Congratulations to the winners of the YANIL Research Prize!
Last updated 23 December 2024

YANIL News: 4th YANIL Workshop on Restructuring and Insolvency Law in Amsterdam, the Netherlands 2023.

YANIL News: Kickstart YANIL Research Webinar Series (pt. 1)

On 21 June 2023, YANIL welcomed Associate Professor Sjur Swensen Ellingsaeter (BI Norwegian Business School) to kick start the YANIL Research Webinar Series. He presented his recently published monograph on "Creditor Priority in European Bank Insolvency Law". The recent wipe-out of bond holders – before equity holders – in an effort to ‘rescue’ Credit Suisse made big headlines. Bond holders held that their rights were violated. Sjur presented his book relating to priority in the context of bank insolvency, as published by Hart Publishing 2023. The book studies the framework for creditor priority resulting from the BRRD and other EU legal acts of relevance for bank failures. Following the presentation, there was a Q&A session.

Afterward, a round table discussion led by Jonatan Schytzer took place, where participants were encouraged to share their ongoing research and further acquaint themselves with each other and each other's work.

Thank you to Sjur for his insightful presentation and for kicking off the Series, and to everyone who participated and enriched the discussions!
Last updated 23 December 2024

YANIL News: 3rd YANIL Workshop on Restructuring and Insolvency Law in Dubrovnik, Croatia 2022.

On 4 and 5 October 2022, YANIL's third Workshop took place in Dubrovnik, Croatia. This workshop brought together researchers and early career academics to present their research on various insolvency and restructuring topics.

Workshop
After a welcome address by YANIL Chair Gert-Jan Boon and Prof. em. Bob Wessels, the workshop's first session began. Giulia Ballerini moderated the first panel. Speakers included Ilya Kokorin (Leiden University) on crypto insolvencies and the regulation of the service providers under the MiCA; Antun Bilic and Marko Bratkovic (University of Zagreb) on contestability of transactions at an undervalue under Croatian law; Marco Novarra (University of Milan) on the triggering point of crisis relevance. 

This was followed by the session chaired by Line Langkjaer (Aarhus University). Presentations included topics such as company law and insolvency by Saverio Bellochi (University of Roma); Challenges and opportunities in reforming insolvency laws in times of crisis by Svetla Kacharova (Slavcheva and Kacharova Law firm); Mateusz Kalinski (Jagiellonian University).

The final panel was moderated by Jonatan Schytzer (Uppsala University). Speakers included Hosna Sheikhattar (Leiden University) on the relevance of domestic insolvency regime under investment treaty arbitration; Arwin Tavakolnia (University of Amsterdam) on third-party releases as a claim resolution mechanism or bypass; Luca Sicignano (University of Campania) on treatment of corporate groups in insolvency in Italy.

The Workshop concluded with a social dinner. The following day, participants enjoyed a boat trip on the shores of Dubrovnik. The YANIL workshop was realized through the support of the Foundation Bob Wessels Insolvency Law Collection (BWILC). The YANIL Board expresses thanks to all supporters and the enthusiastic participation of our attendees. 

YANIL Board 2022
During the Workshop, the YANIL Board announced an important update regarding its composition. Line Langkjaer has completed her term, leaving behind a path of significant contributions to YANIL's aims and activities. She passes the torch to Jonatan Schytzer, who is set to continue this momentum. The new YANIL Board is as follows: Gert-Jan Boon (Chair), Emilie Ghio, David Ehmke, Giulia Ballerini, Eugenio Vaccari, Jonatan Schytzer.

Last updated 23 December 2024

Insolvency News: First Steps Towards a New European Insolvency Instrument 2020

The European Commission has announced the first steps in a possible new instrument in insolvency law. Building on the success of the European Insolvency Regulation Recast 2015 and the recently introduced Directive on Preventive Restructuring Frameworks 2019, DG Justice is takin the lead on a project arising from the work of the Expert Group on Restructuring and Insolvency and has identified possible avenues to pursue towards the convergence of insolvency law rules within the EU. 
As part of the first phase (stakeholders consultation), feedback on a "Roadmap" (or Impact Assessment) has been sought by DG Justice. This is a great opportunity to help determine the shape of the next insolvency law measure and European insolvency law overall, as well as the desirability of the proposal outlined by the European Commission. To this end, INSOL Europe members in all jurisdictions, but especially those in recent EU accession and candidate countries, can help by filling out the online questionnaire. 

The questionnaire can be found here.

Deadline: 9 December 2020

YANIL News: YANIL Virtual Coffee Breaks 2020-2021

If you would like to present your research at one of our coffee breaks or attend the YANIL Virtual Coffee Breaks, please get in touch at yanil@insol-europe.org to be informed of the Zoom details for the event. 

2020: 

• Wednesday 17 June 2020 - Kick-Starting Academic Collaborations [Gert-Jan Boon, (Leiden University), Eugenio Vaccari (University of Essex); Jennifer Gant (University College Cork); Emilie Ghio (Birmingham City University)]

• Wednesday 26 August 2020 - APR and RPR: Directivons for Europe [Giuilia Ballerini (Bocconi University) and Axel Krohn (Martin-Luther Halle-Wittenberg University)] 

• Wednesday 21 October 2020 - The Publishers' and Editors' View on Publishing Your Research [Iram Satti (Edward Elgar; Emerald Publishing) and Jennifer Gant (University College Cork)]

• Wednesday 16 December 2020 - A Happy New Restructuring Year? [David Ehmke (Greenberg Traurig) and Nicoló Usai (University of Florence)]

2021: 

• Wednesday 17 February 2021 - Preventive Restructuring in Cross-Border Proceedings: European Insolvency Regulation or Brussels I bis Regulation? [Walters Nijnens (Hochschule Fulda) and Chiara Lunetti (Université Paris I Panthéon-Sorbonne)] 

• Wednesday 21 April 2021 - Research Methodologies: Empirical Restructuring and Insolvency Research [Jessie Pool (PhD, University of Leiden) and Georg Wabl (PhD, University of Vienna; Binder Grösswang)]

• Wednesday 24 June 2021 - Recognition and enforcement of preventive restructuring proceedings (post-Brexit) [Prof. Jessica Schmidt (University of Bayreuth) and Dr. Eugenio Vaccari (Royal Holloway, University of London)]

• Wednesday 13 October 2021 - Restructuring and Insolvency in the Reverse [Dr. Maurits den Hollander (Tilburg University) and Prof. em. Bob Wessels (Leiden University)]

• Wednesday 8 December 2021 - Showcasing Research - The Rise of Claims in Insolvency Law [Dr. Jonatan Schytzer (University of Uppsala) and Dr. Jennifer L.L. Gant (University of Derby)]

​YANIL Board 2020
Gert-Jan Boon (Chair), David Ehmke, Jennifer Gant, Emilie Ghio, Line Langkjaer, Eugenio Vaccari.