Blog Archive

During the current decade, restructuring plans have emerged as a widely used instrument for companies that are likely to become insolvent but can demonstrate their business remains viable. Within the EU, Article 8 of the Preventive Restructuring Directive (PRD 2019/1023) outlines the essential elements that restructuring plans must contain when submitted for adoption by groups of affected creditors or for… Read More »2026-10-doc1 What is the status of SME restructuring plan checklists?

One of the many topics on the European Commission’s present restructuring and insolvency agenda is the revision of the European Insolvency Regulation (EIR 2015), as I detailed in  January 2026 blog, see https://bobwessels.nl/blog/2026-01-26-eu-restructuring-insolvency-what-awaits-us-in-2026/. The regulation was adopted in 2015 and entered into force in 2017. It stipulates that new proposals will be made in the summer of 2027, if necessary.… Read More »2026-09-doc3 Insolvency Regulation’s Annex A hits a stumbling block, again

In January, the District Court of Rotterdam ruled on a request from X (from Manchester) and Y (from London), both acting as administrators appointed by the English High Court in an administration, an English insolvency proceeding concerning company Z. The administrators were appointed to wind up Z, a company incorporated under the laws of England and Wales that, in addition to its… Read More »2026-09-doc2 Dutch court tests the limits of post-Brexit insolvency cooperation

Wessels Restructuring Plans (forthcoming) is a European book investigating ‘Preventive restructuring frameworks’, also termed: restructuring plans, which are the subject of Title III, Article 4 – 19, of the Preventive Restructuring Directive 2019/1023. It analyses what a restructuring plan is, including its nature and its legal consequences, and the rules to apply when such a restructuring plan is implemented in… Read More »2026-09-doc1 Restructuring plans, my forthcoming book

My focus today is on a small puzzle: interim proceedings. What are they? Do they have cross-border effect? And can we learn a bit more about them in the future? The EU Insolvency Regulation (EIR 2015) provides in Article 1(1) that the regulation shall apply to “public collective proceedings”, to which the provision adds: “including interim proceedings”. Recital 15 shows the way by… Read More »2026-08-doc2 Do you know what an “interim proceeding” is?

Directive (EU) 2026/799 on harmonising certain aspects of insolvency law (CAD 2026/799) lays down common rules on creditors’ committees. For an overview of the other ‘aspects’ the directive covers, see https://bobwessels.nl/blog/2026-06-doc2-certain-aspects-directive-2026-799-a-patchwork-without-cross-border-rules/. Globally, it is commonly held that the interests of relevant creditors may be best served by coordinating their response to a debtor in financial difficulty through the establishment of… Read More »2026-07-doc1 The mystery around creditors committees

This blog is published as a companion piece to the eight-part video Lecture Series on the European Insolvency Regulation (EIR 2015) by Prof. Em. Bob Wessels and Defne Taşman. Since the videos were recorded in late February 2026, important legislative developments have taken place in European insolvency law, including the adoption of Directive (EU) 2026/799 harmonising certain aspects of insolvency… Read More »2026-06-doc4 The New EU Insolvency Harmonisation Directive: A Bird’s-Eye View