News overview

Start of Turnaround Wing Project

Just last month, the Turnaround Wing of INSOL Europe and Leiden Law School started to work on the design of ‘guidelines for out-of-court turnaround professionals’. The INSOL Europe Council approved the project in Istanbul.

By setting professional and ethical standards including disciplinary procedures for the profession in Europe, the guidelines aim:

(a) to offer leadership to turnaround practice in Europe,
(b) to promote out of court restructuring rather than in court reorganisation or liquidation,
(c) to provide the basis for a long-term sustainable future for the business by ascertaining the quality of turnaround professionals, and
(d) to enhance the trust in the profession in the marketplace.

The project consists of two phases. The first phase (until March 2015) involves a study on relevant international and national documents containing laws, rules, guidelines, principles, best practices and comments. During the second phase (April-July 2015) principles and guidelines for out-of-court turnaround professionals will be drafted, and finally submitted to the members in a questionnaire (Summer 2015). The final draft will be presented during the next INSOL Europe
annual conference in Berlin, 2015.

See for more information the project page on tri-leiden.eu

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