Key issues: needed reforms

Bob Wessels and Defne Taşman

Chapter 15 in The European Insolvency Regulation, 2026, pp 141-159 from Edward Elgar Publishing

Abstract: The EIR 2015 has broadly succeeded in providing legal certainty, whilst divergent national implementations, limited substantive harmonisation and ongoing uncertainty at the boundaries with other EU instruments reveal structural issues. It therefore needs targeted clarification and refinement, rather than comprehensive reform. The key issues for reform are: (1) refining the scope with a sharper definition of public collective proceedings and the contents of Annexes A and B; (2) addressing international jurisdiction and COMI ambiguities; (3) clarifying the scope and use of secondary proceedings and undertakings; (4) a review of applicable law concerning localisation logic and the impact of exceptions; (5) addressing recognition and enforcement with greater legal certainty and reduced friction with Brussels I Recast; (6) enhancing communication and cooperation; (7) enhancing support to foreign creditors through practical measures; (8) further refining provisions for groups of companies; and (9) furthering relations with third countries.

Keywords: Reform; Public Collective Proceedings; Annex A and B; Undertakings; Brussels I Recast; Foreign Creditors; Groups of Companies; Third Countries (search for similar items in EconPapers)
Date: 2026
ISBN: 9781035396436
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