Foreign creditors

Bob Wessels and Defne Taşman

Chapter 12 in The European Insolvency Regulation, 2026, pp 123-128 from Edward Elgar Publishing

Abstract: The EIR defines a foreign creditor as any creditor – including tax and social security authorities – with habitual residence, domicile, or registered office in a Member State other than the State of the opening. To alleviate informational and procedural barriers in cross-border insolvency and to establish a system of procedural equality between local and foreign creditors, the EIR imposes duties of publication and notification and establishes harmonised rules for the lodgement of claims. The EIR also requires immediate individual notification of all known foreign creditors worldwide, using standardised forms. A reinforced right to participate includes the right to lodge claims in both main and secondary proceedings, prohibiting discrimination against non-local creditors, and requiring IPs to assist with cross-lodgement as appropriate. Further, the EIR facilitates the use of electronic filing, non-mandatory legal representation, multilingual standard forms, and minimum filing periods for foreign creditors.

Keywords: Foreign Creditor; Local Creditor; Creditors; Non-Discrimination; Right to Participate; Lodgement of Claims; Standard Forms; Electronic Filing; Filing Periods (search for similar items in EconPapers)
Date: 2026
ISBN: 9781035396436
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