News overview

Report II on the IOH project presented to the INSOL Europe Executive

In a sequence of three, Report II on the IOH project (A Comparative Analysis of Rules for Insolvency Office Holders in Eleven European Countries as a means to Identify Room for Principles and Best Practices) has been presented recently to the INSOL Executive.

Aim of the project

The project, commissioned to Leiden Law School by INSOL Europe, aims to develop a well-founded framework of Principles and Best Practices for Insolvency Office Holders (IOHs) all over Europe. These Principles and Best Practices will be non-binding rules. They should serve as a sound benchmark to improve efficiency and effectiveness for individual IOHs, professional insolvency practitioners’ associations, judges and other public authorities, by introducing, assessing or strengthening existing rules for IOHs. Moreover, the Principles and Best Practices could serve as a means to establish or strengthen public confidence in IOHs, in the quality of their work and in the way they are monitored and supervised. Finally, since they serve in national as well as international insolvency cases, the Principles and Best Practices could play a significant role in the debate and determination of possible future binding rules for IOHs on a European level.

Reports I, II and III

Report I has been presented in September 2013, and contains a framework and a model, which are subsequently applied on the analysis of regionally and globally established rules for IOHs. Report II is dated 30 April 2014, and the final Report III is due by the end of October 2014.

The draft text of the Statement of Principles and Best Practices (Report III) will be discussed at the annual conference of INSOL Europe, this year to be held early October in Istanbul. Thereafter, Leiden Law School will incorporate the final comments and deliber the final text.

Click here to read more on the IOH Project.