European Insolvency Proceedings: Commentary on EU-Regulation 2015/848 on Insolvency Proceedings (Recast)

List of Authors

Preface

CHAPTER 1
General Provisions

Article 1
Scope

Article 2
Definitions

Article 3
International jurisdiction

Article 4
Examination as to jurisdiction

Article 5
Judicial review of the decision to open main insolvency proceedings

Article 6
Jurisdiction for actions deriving directly from insolvency proceedings and closely linked with them

Article 7
Applicable law

Article 8
Third parties’ rights in rem

Article 9
Set-off

Article 10
Reservation of title

Article 11
Contracts relating to immoveable property

Article 12
Payment systems and financial markets

Article 13
Contracts of employment

Article 14
Effects on rights subject to registration

Article 15
European patents with unitary effect and Community trade marks

Article 16
Detrimental acts

Article 17
Protection of third-party purchasers

Article 18
Effects of insolvency proceedings on pending lawsuits or arbitral proceedings

CHAPTER 2
Recognition of Insolvency Proceedings

Article 19
Principle

Article 20
Effects of recognition

Article 21
Powers of the insolvency practitioner

Article 22
Proof of the insolvency practitioner’s appointment

Article 23
Return and imputation

Article 24
Establishment of insolvency registers

Article 25
Interconnection of insolvency registers

Article 26
Costs of establishing and interconnecting insolvency registers

Article 27
Conditions of access to information via the system of interconnection

Article 28
Publication in another Member State

Article 29
Registration in public registers of another Member State

Article 30
Costs

Article 31
Honouring of an obligation to a debtor

Article 32
Recognition and enforceability of other judgments

Article 33
Public policy

CHAPTER 3
Secondary Insolvency Proceedings

Article 34
Opening of proceedings

Article 35
Applicable law

Article 36
Right to give an undertaking in order to avoid secondary insolvency proceedings

Article 37
Right to request the opening of secondary insolvency proceedings

Article 38
Decision to open secondary insolvency proceedings

Article 39
Judicial review of the decision to open secondary insolvency proceedings

Article 40
Advance payment of costs and expenses

Article 41
Cooperation and communication between insolvency practitioners

Article 42
Cooperation and communication between courts

Article 43
Cooperation and communication between insolvency practitioners and courts

Article 44
Costs of cooperation and communication

Article 45
Exercise of creditors’ rights

Article 46
Stay of the process of realisation of assets

Article 47
Power of the insolvency practitioner to propose restructuring plans

Article 48
Impact of closure of insolvency proceedings

Article 49
Assets remaining in the secondary insolvency proceedings

Article 50
Subsequent opening of the main insolvency proceedings

Article 51
Conversion of secondary insolvency proceedings

Article 52
Preservation measures

Article 53
Right to lodge claims

Article 54
Duty to inform creditors

Article 55
Procedure for lodging claims

CHAPTER 4
Provision of Information for Creditors and Lodgement of Their Claims

Article 56
Cooperation and communication between insolvency practitioners

Article 57
Cooperation and communication between courts

Article 58
Cooperation and communication between insolvency practitioners and courts

Article 59
Costs of cooperation and communication in proceedings concerning members of a group of companies

Article 60
Powers of the insolvency practitioner in proceedings concerning members of a group of companies

Article 61
Request to open group coordination proceedings

Article 62
Priority rule

Article 63
Notice by the court seised

Article 64
Objections by insolvency practitioners

Article 65
Consequences of objection to the inclusion in group coordination

Article 66
Choice of court for group coordination proceedings

Article 67
Consequences of objections to the proposed coordinator

Article 68
Decision to open group coordination proceedings

Article 69
Subsequent opt-in by insolvency practitioners

Article 70
Recommendations and group coordination plan

Article 71
The coordinator

Article 72
Tasks and rights of the coordinator

Article 73
Languages

Article 74
Cooperation between insolvency practitioners and the coordinator

Article 75
Revocation of the appointment of the coordinator

Article 76
Debtor in possession

Article 77
Costs and distribution

CHAPTER 5
Insolvency Proceedings of Members of a Group of Companies

Article 78
Data Protection

Article 79
Responsibilities of Member States regarding the processing of personal data in national insolvency registers

Article 80
Responsibilities of the Commission in connection with the processing of personal data

Article 81
Information obligations

Article 82
Storage of personal data

Article 83
Access to personal data via the European e-Justice Portal

CHAPTER 6
Data Protection

Article 84
Applicability in time

Article 85
Relationship to Conventions

Article 86
Information on national and European Union insolvency law

Article 87
Establishment of the interconnection of registers

Article 88
Establishment and subsequent amendment of standard forms

Article 89
Committee procedure

Article 90
Review clause

Article 91
Repeal

Article 92
Entry into force

CHAPTER 7
Transitional and Final Provisions

Bibliography