News overview

IOH update 1: Furthering the Possibility of Harmonized Standards in Europe

The IOH-project is a recent initiative of Leiden Law School, commissioned by INSOL Europe. It researches (the possibilities for) the development of a set of principles and best practices for insolvency office holders. It can, therefore, be considered as a next step in the possible harmonization of insolvency laws within the European Union.

These principles and best practices have multiple purposes. They can, first of all, serve as a benchmark for both insolvency actors and insolvency legislation. As such, they can be used by IOHs, professional insolvency  practitioners’ associations, judges and other public authorities to evaluate their professional conduct.`

Furthermore, the principles and best practices can be used by legislators to introduce, assess or improve existing legislation with respect to IOHs. Secondly, it is to be expected that the principles and best practices might increase public confidence in IOHs, their work quality, and in the way they are monitored and supervised. Lastly, they could play a significant role in the debate and determination of possible future rules for IOHs on a European level.

Several experts will be or have been requested to act in the capacity of an academic advisory committee and a project research advisory group. They are to review each report before it is presented to INSOL Europe. To promote a broad support for the principles and best practices, a questionnaire will be sent out to a group of IOHs, the members of which are to be selected in cooperation with INSOL Europe.

The project is led by Leiden Law School professors Jan Adriaanse and Iris Wuisman and coordinated by dr. Bernard Santen.

The IOH-project is one of the more recent commissions made by INSOL Europe