News overview

Business Rescue update 2: Preparing the Questionnaire

The ultimate aim of this project, initiated by the European Law Institute, is to design a framework that will enable the further development of coherent and functional rules for business rescue in Europe. Insolvency law is at the forefront of reform initiatives in Europe and beyond, and any contemporary developments will be given due consideration as work on the project progresses.

Early 2014 the Advisory Committee (AC) was appointed by the ELI Council. The Reporters found many experts in different areas of law from across Europe willing to supervise the work of the Reporters as the project will evolve. In addition a Members Consultative Committee (MCC) has been set up. The role of an MCC is to comment on any preliminary project results. MCC members come from various legal professions and specialise in different areas of law. It is exactly this diversity which enriches the debating potential of the MCC and makes its contribution so valuable.

All members of the ELI are welcome to join the Members Consultative Committee and provide the reporters with their perspective on the project.

 

Questionnaire

The Reporters have put in great effort in drafting an extensive questionnaire covering all issues relevant to business rescue. They have greatly benefited from the feedback from the Advisory Committee. The questionnaire has been sent to the 26 national correspondents (representing 13 European countries) for drafting a national inventory report.

The questionnaire covers the following ten topics:

  1. Governance and supervision of a rescue in court and ‘out-of-court’;
  2. Financing a rescue;
  3. Executory contracts;
  4. Ranking of creditors, and of the expenses of any Insolvency Office Holder;
  5. Labour, benefit and pension issues;
  6. Avoidance powers;
  7. Sales of substantially all of the debtor’s assets, including going-concern sales;
  8. Rescue plan issues;
  9. Multiple enterprise cases/issues;
  10. Special arrangements for small and medium sized enterprises (SMEs). 

Over the next months the National Correspondents will be able to prepare their reports along the framework set by the questionnaire.

For further information: businessrescue@europeanlawinstitute.eu.

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