Background to the European insolvency framework

Bob Wessels and Defne Taşman

Chapter 3 in The European Insolvency Regulation, 2026, pp 14-20 from Edward Elgar Publishing

Abstract: EU cross-border jurisdiction and the recognition of judgments in civil and commercial matters are governed by the Brussels I framework, first introduced in 1968, and transposed in 2012. However, this instrument excludes insolvency proceedings. The EIR 2000, which entered into force in 2002, aimed to address this gap and sought to improve the efficiency of cross-border insolvency proceedings. However, its scope was narrow, its COMI concept proved controversial, the system for secondary proceedings disrupted the efficient administration of estates, it did not mandate publication of proceedings, and it did not address group insolvencies. The EIR 2015 (Recast) aimed to respond to these deficiencies through, inter alia, extending its scope to include pre-insolvency and hybrid restructuring proceedings, rules for identification of jurisdiction and a sharper COMI concept, strengthening the duties of cooperation and communication between courts and practitioners in main and secondary proceedings, establishing interconnected national insolvency registers to increase transparency and facilitate the lodging of claims, and including a new framework for the coordination of group insolvencies, enabling parent companies and subsidiaries to manage their cross-border restructurings more effectively.

Keywords: Brussels I Regulation; Centre of Main Interests; COMI; Lex Fori Concursus; European Insolvency Regulation 2000; European Insolvency Regulation 2015; EIR Recast (search for similar items in EconPapers)
Date: 2026
ISBN: 9781035396436
References: Add references at CitEc
Citations:

Downloads: (external link)
https://www.elgaronline.com/doi/10.4337/9781035396443.00012 (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:elg:eechap:25589_3

Ordering information: This item can be ordered from
http://www.e-elgar.com

Access Statistics for this chapter

More chapters in Chapters from Edward Elgar Publishing
Bibliographic data for series maintained by Jack Sweeney ().