Lynch Fannon and Gant, ‘JCOERE – Judicial Co-Operation in the European Union: Insolvency and Rescue’

This Chapter will begin with a snapshot of the JCOERE Project teasing out some implications connected to the Preventive Restructuring Directive and the cooperation obligations under the EIR Recast against the backdrop of emerging European debates. It will go on to consider how the PRD reflects a range of preventive restructuring processes that already exist in the EU with a particular focus on the Irish Examinership process. When one considers the interface between the PRD and the co-operation obligations in the EIR Recast it should be noted that not all of these processes will be covered by the EIR Recast. In Ireland, for example, there is one process that is specifically included in Annexe A of the EIR Recast (Examinership) and one that is not (Schemes of Arrangement), which is modelled exactly on the UK scheme of arrangement and which has been part of Irish law since at least 1948). The Chapter will continue with a focus on the Irish Examinership process and consider the substantive rules which are part of a robust restructuring framework in light of the 30 years of experience with Examinership in the Irish courts. It will consider these rules in light of significant cases by the Irish courts and this discussion will add to the theoretical debate currently being conducted in Member States regarding implementation of the PRD.

Lynch Fannon, Irene and Gant, Jennifer, JCOERE – Judicial Co-Operation in the European Union: Insolvency and Rescue (September 20, 2020). Chapter 9 in Jennifer LL Gant (ed), Harmonisation of Insolvency and Restructuring Laws in the EU (INSOL Europe 2020) 107-119.

First posted 2021-06-02 12:00:22

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