From 16-18 May the 19th IEEI-Colloquium will be held in Athens, Greece. The International Exchange of Experiences between Insolvency experts (IEEI) has been a German Initiative from the Bundesstaat of Nord-Rhein Westphalen. Its goal is certainly expressed in the abbreviation IEEI. So far more than 30 colleagues from 16 countries all over the globe have registered. I was invited to speak about the report prof. Stephan Madaus and I delivered last September to the European Law Institute (ELI). We were able to present and discuss parts of our study at the IEEI conference in 2016 in Lisbon and 2017 in Chicago. On IEEI, see http://www.insolvenzrecht.jura.uni-koeln.de/16366.html?&L=1.
My presentation relates to the report ‘Rescue of Business in Insolvency Law’, consisting of 115 recommendations (explained on more than 375 pages) on a variety of themes affected by the rescue of financially distressed businesses. The Report’s ten chapters cover: (1) Actors and procedural design, (2) Financing a rescue, (3) Executory contracts, (4) Ranking of creditor claims; governance role of creditors, (5) Labour, benefit and pension issues, (6) Avoidance transactions in out-of-court workouts and pre-insolvency procedures and possible safe harbours, (7) Sales on a going-concern basis, (8) Rescue plan issues: procedure and structure; distributional issues, (9) Corporate group issues, and (10) Special arrangements for small and medium-sized enterprises (SMEs) including natural persons (but not consumers). The Report also includes a glossary of terms and expressions commonly used in restructuring and insolvency matters. See: Wessels, Bob and Madaus, Stephan, Business Rescue in Insolvency Law - an Instrument of the European Law Institute (September 6, 2017). Available at SSRN: https://ssrn.com/abstract=3032309, or - alternatively - Wessels, Bob and Madaus, Stephan, Business Rescue in Insolvency Law - an Instrument of the European Law Institute (September 2017). Available at http://www.europeanlawinstitute.eu/fileadmin/user_upload/p_eli/Publications/Instrument_INSOLVENCY.pdf. To contact the reporters use for Stephan Madaus the address: email@example.com, and for me: firstname.lastname@example.org. Picture: Bob Wessels, Stephan Madaus and Gert-Jan Boon. See also http://www.bobwessels.nl/blog/2017-09-doc3-eli-business-rescue-report-published/