Harmonisation of Insolvency Law at EU Level : Avoidance Actions and Rules on Contracts

15-03-2011

This note supplements the note “Harmonisation of Insolvency Law at EU Level“, dated April 2010 which had been requested by the European Parliament Committee on Legal Affairs. It is intended to serve as a further basis for the “Workshop on Harmonisation of Insolvency Proceedings at EU Level” on 22 March 2011, and, in accordance with the request, to provide a detailed statement on the insolvency law issues arising in respect of Avoidance Actions and Rules on Contracts (plus extended Retention of Title Clause). In this context, Avoidance Actions and Rules on Contract (plus extended Retention of Title Clause are addressed with regard to their legal and economic effects under the different specific situations in the various national jurisdictions. The note shall in particular define the relevant differences, using various legal regimes as an example, and shall discuss whether this means that a further harmonisation of national insolvency law at EU level is reasonable and attainable.

This note supplements the note “Harmonisation of Insolvency Law at EU Level“, dated April 2010 which had been requested by the European Parliament Committee on Legal Affairs. It is intended to serve as a further basis for the “Workshop on Harmonisation of Insolvency Proceedings at EU Level” on 22 March 2011, and, in accordance with the request, to provide a detailed statement on the insolvency law issues arising in respect of Avoidance Actions and Rules on Contracts (plus extended Retention of Title Clause). In this context, Avoidance Actions and Rules on Contract (plus extended Retention of Title Clause are addressed with regard to their legal and economic effects under the different specific situations in the various national jurisdictions. The note shall in particular define the relevant differences, using various legal regimes as an example, and shall discuss whether this means that a further harmonisation of national insolvency law at EU level is reasonable and attainable.

Awtur estern

Daniel F. Fritz (lawyer, Insolvency Administrator, HERMANN Rechtsanwälte, Wirtschaftsprüfer, Steuerberater, German Bar Association - Working Group Europe of the Practice Group on Insolvency Law and Restructuring)