As 26 June 2017 approaches the date of entry into effect of the Recast EU Insolvency Regulation (2015/8484/EU) we look in detail at the new provisions for co-ordinating the insolvency proceedings of members of a pan-European group of companies and consider whether the new proposals for co-operation will be compulsory, the practicalities of who will pay the co-ordinators fees and whether the creditors can have a say in the process.
BACKGROUND
Some of the issues raised by pan-European insolvency proceedings involving groups of companies have been examined by the European Court of Justice in the Eurofood case (Cas…
Read the full article at: http://www.natlawreview.com/article/cross-border-co-operation-group-insolvency-proceedings-myth-or-reality