Achievements and the 2027 review clause

Bob Wessels and Defne Taşman

Chapter 14 in The European Insolvency Regulation, 2026, pp 136-140 from Edward Elgar Publishing

Abstract: Against a fragmented cross-border insolvency landscape at the end of the twentieth century, the EIR has operationalised a coherent system of international jurisdiction, applicable law, and recognition, through a set of references as to how courts, IPs, creditors and debtors should approach the matter. The result is, inter alia, automatic recognition of proceedings and judgments, streamlined proceedings aimed at business rescue and restructuring, cooperation, and interconnection of registers. The EIR is not designed for the elimination of divergence between national laws. Its contribution lies in structuring cross-border interaction, reducing uncertainty and embedding trust. The durability of its achievements depends on the capacity to adapt to developments over time. Accordingly, the EIR 2015 is not a static instrument. It includes a review clause designed to ensure that its operation remains aligned with evolving practice and policy priorities, although delays in the delivery of reports on specific issues may affect the conditions for evaluations and the review process.

Keywords: European Insolvency Regulation 2015; Cross-Border Insolvency; Automatic Recognition; Rescue; Restructuring; Review Clause (search for similar items in EconPapers)
Date: 2026
ISBN: 9781035396436
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