Actors involved

Bob Wessels and Defne Taşman

Chapter 11 in The European Insolvency Regulation, 2026, pp 114-122 from Edward Elgar Publishing

Abstract: The actors implementing the EIR 2015 are the insolvency practitioner (IP), the debtor in possession (DIP), and the courts. The practitioner in the field of restructuring (PIFOR) is added by the Preventive Restructuring Directive (PRD) 2019/1023, signalling the interaction of the EIR with the PRD. Appointment, supervision, and removal of IPs are governed by the lex fori concursus of the proceedings in which IPs or PIFORs are appointed. According to the universality principle, the IP of the main proceedings has authority in other Member States’ proceedings, with some limitations. IPs of secondary proceedings have territorial powers. The DIP is an autonomous actor, remaining totally or partially in control of its assets and affairs. The PIFOR, whose appointment is mandatory or optional depending on the case, could assume restructuring plan facilitation, supervision, and asset control functions, with cross-border powers hingeing on inclusion in EIR Annex B. Courts drive the EIR jurisdictional map, recognition regime and cooperation. Member States drive electronically connected insolvency registers.

Keywords: Debtor in Possession; DIP; Insolvency Practitioner; IP; Practitioner in the Field of Restructuring; PIFOR; Preventive Restructuring Directive 2019/1023; PRD; Restructuring; Restructuring Plan; EIR Annex B (search for similar items in EconPapers)
Date: 2026
ISBN: 9781035396436
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