The European Union Preventive Restructuring Framework: a hole in one?

Ehmke, David and Gant, Jennifer and Boon, Gert-Jan and Langkjaer, Line and Ghio, Emilie (2019) The European Union Preventive Restructuring Framework: a hole in one? International Insolvency Review, 28 (2). pp. 184-209. ISSN 1099-1107

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Abstract

While traditionally (Continental) Europe has not been known for an in particular debtor‐ or restructuring‐friendly insolvency practice, in recent decades, important reforms were implemented that would foster restructurings in Europe. In this article, we comparatively look a the status quo of insolvency and restructuring practice in five different European countries (Denmark, France, Germany, Netherlands, UK). We place our observations into the context of the preventive restructuring directive, to be implemented within the next two years after its publication on 26 June 2019. The directive leaves quite some room implementation, from a watered‐down restructuring tool with high access threshold to a pre‐insolvency debtor‐friendly US‐style restructuring procedure.

Item Type:	Article
Identification Number:	10.1002/iir.1344
Dates:	Date Event 1 May 2019 Accepted 6 August 2019 Published Online
Subjects:	CAH16 - law > CAH16-01 - law > CAH16-01-01 - law
Divisions:	Faculty of Business, Law and Social Sciences > College of Law, Social and Criminal Justice
Depositing User:	Emilie Ghio
Date Deposited:	01 Aug 2019 10:41
Last Modified:	12 Jan 2022 14:08
URI:	https://www.open-access.bcu.ac.uk/id/eprint/7759

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