International Insolvency Law Part II

Preface to the fifth edition / V
Preface to the fourth edition / IX
Preface to the third edition / XIII
Preface second edition (2006) / XVII
Preface first edition (2003) / XXI
Detailed Content / XXIX
List of abbreviations / LXI
Bibliography / LXIX
Table of cases / CCI
Table of CJEU cases – sorted by case number / CCXXIX
Table of legislation / CCXXXIII

I. EU INSOLVENCY REGULATION / 1
§ I.1 Introductory remarks / 1
§ I.2 Genesis / 26
§ I.3 Scheme / 32
§ I.4 Territorial reach / 34
§ I.5 Substantive scope / 39
§ I.6 The model of the Insolvency Regulation / 42
§ I.7 Interpretation / 46
§ I.8 Adoption / 58

II. GENERAL PROVISIONS / 63
§ II.1 Scope and definitions / 63
§ II.2 International jurisdiction / 142
§ II.2.1 Centre of main interests / 146
§ II.2.2 Principle of mutual trust / 158
§ II.2.3 Individuals / 163
§ II.2.4 The presumptions of Article 3(1) / 180
§ II.2.5 Burden of proof / 197
§ II.2.6 Registered office outside the EU / 201
§ II.2.7 Reference date / 205
§ II.2.8 Treatment of multinational groups of companies / 218
§ II.2.9 Preservation measures / 258
§ II.2.10 International jurisdiction for other decisions / 260
§ II.2.11 Territorial proceedings / 260
§ II.3 Examination of international jurisdiction / 272
§ II.3.1 Examination as to international jurisdiction / 273
§ II.3.2 Challenge of the decision to open main insolvency proceedings / 281
§ II.3.3 International jurisdiction for annex- and related-actions / 286
§ II.4 Applicable law / 298
§ II.5 Exceptions to the applicability of the lex concursus / 321
§ II.6 Rights in rem of third parties / 331
§ II.7 Set-off / 354
§ II.8 Reservation of title / 363
§ II.9 Current reciprocal contracts / 369
§ II.10 Contracts relating to immoveable property / 377
§ II.11 Payment systems and financial markets / 382
§ II.12 Contracts of employment / 385
§ II.13 Rights subject to registration / 396
§ II.14 Protection of a third-party acquirer / 398
§ II.15 Pending lawsuits or arbitral proceedings / 402
§ II.16 European patents with unitary effect and Community trade marks / 417
§ II.17 Detrimental acts / 419

III. RECOGNITION OF INSOLVENCY PROCEEDINGS / 439
§ III.1 Principle of automatic recognition of judgments / 439
§ III.2 Consequences of the recognition of main insolvency proceedings / 454
§ III.3 Consequences of recognition of territorial proceedings / 458
§ III.4 Powers of the insolvency practitioner / 460
§ III.5 Obligation by a creditor to return / 473
§ III.6 ‘Hotchpot’-rule / 476
§ III.7 Insolvency registers / 479
§ III.8 Opening insolvency proceedings: publication, registration and costs / 488
§ III.9 Honouring an obligation to a debtor / 495
§ III.10 Recognition and enforceability of other judgments / 498
§ III.11 Recognition and enforcement of judgments deriving from insolvency proceedings / 501
§ III.12 Recognition and enforcement of preservation measures / 519
§ III.13 Public policy / 523

IV. SECONDARY INSOLVENCY PROCEEDINGS / 537
§ IV.1 Introductory remarks / 537
§ IV.2 Avoiding opening of secondary proceedings: an undertaking / 551
§ IV.3 Opening of secondary proceedings / 574
§ IV.3.1 Right to request opening of secondary proceedings / 574
§ IV.3.2 Opening secondary insolvency proceedings and the stay / 581
§ IV.3.3 Judicial review of the decision to open secondary insolvency proceedings / 592
§ IV.3.4 Advance payment of costs and expenses / 595
§ IV.4 Cross-border cooperation and communication / 596
§ IV.4.1 Cooperation and communication between insolvency practitioners / 623
§ IV.4.2 Cooperation and communication between courts / 635
§ IV.4.3 Cooperation and communication between insolvency practitioners and courts / 641
§ IV.4.4 Cost of cooperation and communication / 643
§ IV.5 Exercising of creditors’ rights / 644
§ IV.6 Stay of process of realisation of assets / 655
§ IV.7 Measures ending secondary insolvency proceedings / 663
§ IV.8 Procedural entanglements / 670
§ IV.9 Powers of a temporary administrator / 675

V. PROVISION OF INFORMATION TO CREDITORS AND LODGEMENT OF THEIR CLAIMS / 681
§ V.1 Right to lodge claims / 681
§ V.2 Duty to inform creditors / 690
§ V.3 Procedure for lodging of a claims / 696

VI. INSOLVENCY PROCEEDINGS OF MEMBERS OF A GROUP OF COMPANIES / 703
§ VI.1 Introductory remarks / 703
§ VI.2 Cooperation and communication / 705
§ VI.3 Group coordination proceedings / 716
§ VI.4 Group coordinator / 740

VII. DATA PROTECTION / 765

VIII. TRANSITIONAL AND FINAL PROVISIONS / 769
§ VIII.1 Transitional law / 769
§ VIII.2 Relationship to existing conventions and treaties between Member States / 774
§ VIII.3 Remaining final provisions / 777

Appendices / 781
Appendix I Regulation (EU) 2015/848 of the European Parliament and of the Council of 20 May 2015 on insolvency proceedings (recast) / 783
Appendix IA Transposition Table – recitals EIR 2000 (Regulation 1346/2000) - EIR 2015 (Recast) (Regulation 2015/848) / 855
Appendix 1B Regulation (EU) 2021/2260 amending Regulation (EU) on insolvency proceedings to replace its Annexes A and B / 857
Appendix II Council Regulation (EC) No 1346/2000 of 29 May 2000 on insolvency proceedings / 867
Appendix III European Communication and Cooperation Guidelines for Cross-border Insolvency (‘CoCo Guidelines’) (October 2007) / 891
Appendix IV EU Cross-Border Insolvency Court-to-Court Cooperation Principles (‘EU JudgeCo Principles’) and EU Cross-Border Insolvency Court-to-Court Communications Guidelines (‘EU JudgeCo Guidelines’) (December 2014) – Introduction / 899
Eu cross-border insolvency court-to-court cooperation principles / 903
Eu cross-border insolvency court-to-court communications guidelines / 913
Appendix V Recommendations for Protocols in Group Insolvencies / 919