European Insolvency Law

In summary, this is a useful work which details a necessary phase in the renovation of the EIR and provides a snapshot of the state of European domestic laws and jurisprudence in the way they have responded to the framework set out in the EIR and the problems of its implementation. The highlights of this text are clearly the extensive analysis, the summaries of national reports, the very useful summaries of the jurisprudence and the bibliography for further research, which underline its great utility. An index to the analysis and table of abbreviations used are also included in the work. For these reasons, this work should appeal to anyone interested in European insolvency, whether academic, judge, practitioner or policy-maker. -- Paul J. Omar * International Company and Commercial Law Review, Volume 25, Issue 8, 2014 *

Burkhard Hess is the founding and executive director of the Max Planck Institute for International, European and Regulatory Procedural Law in Luxembourg. Paul Oberhammer is Professor in Law at the University of Vienna. Thomas Pfeiffer is Professor in Law at the University of Heidelberg.

1 Introduction 1.1 Methodology, Scope and Aim of the Study 1.2 Outline of the Study 2 Executive Summary 2.1 General Assessment 2.2 The Scope of the Regulation 2.3 Pre-insolvency and Hybrid Proceedings not Listed in the Annex A of the EIR 2.4 Article 3 EIR 2.5 Insolvency-related Actions (Article 3 a EIR) 2.6 Groups of Companies 2.7 Applicable Law 2.8 Coordination of Proceedings 2.9 Lodgement of Claims Main Findings 3 Scope of the Regulation 3.1 Underlying Policies 3.2 Main Issues 3.3 National Legislation and Case-Law 3.4 Policy Options 3.5 Recommendations 4 Jurisdiction 4.1 Article 3 EIR: Definition and Determination of the Centre of Main Interests 4.2 Annex Proceedings 5 Groups of Companies 5.1 The Problem 5.2 Ways to Improve Coordination 6 Applicable Law 6.1 Article 4 EIR: Applicability of the Law of the State of the Opening of the Proceedings (Thomas Pfeiffer) 6.2 Article 5 EIR: Third Parties' rights in rem (Andreas Piekenbrock) 6.3 Article 6 EIR: Set-off (Andreas Piekenbrock) 6.4 Article 7 EIR: Reservation of Title (Andreas Piekenbrock) 6.5 Article 8 EIR: Contracts Relating to Immoveable Property (Andreas Piekenbrock) 6.6 Article 9 EIR: Payment Systems and Financial Markets (Thomas Pfeiffer) 6.7 Article 10 EIR: Employment Contracts (Thomas Pfeiffer) 6.8 Article 11 EIR: Effects on Rights Subject to Registration (Andreas Piekenbrock) 6.9 Article 12 EIR: Community Patents and Trade Marks (Robert Magnus) 6.10 Article 13 EIR: Avoidance, Avoidability and Voidness (Thomas Pfeiffer) 6.11 Article 14 EIR: Protection of Third-party Purchasers (Andreas Piekenbrock) 6.12 Article 15 EIR: Effect of the Insolvency Proceedings on Individual Proceedings in Other Member States (Thomas Pfeiffer) 7 Coordination of Proceedings 7.1 General 7.2 Tools 7.3 Coordination of Main and Secondary Proceedings 8 Information for Creditors and Lodging of Claims 8.1 Introduction 8.2 Regulatory Framework and Underlying Policies 8.3 Main Issues 8.4 Conclusion and Policy Options 9 The Recognition of Decisions on Insolvency Proceedings under the European Insolvency Regulation 9.1 Automatic Recognition of Decisions Opening Insolvency Proceedings (Article 16) 9.2 The Public Policy Exception (Article 26 EIR)