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2025-04-doc1 The European pre-pack is slowly being unpacked

EU member states’ different and unharmonized insolvency and restructuring laws have long been regarded as one of the greatest obstacles to the free movement of capital in the EU. That is within the EU in general and to cross-border investments from third countries. On 7 December 2022, the European Commission published a proposal for a Directive harmonising certain aspects of… Read More »2025-04-doc1 The European pre-pack is slowly being unpacked

2025-03-doc2 Rembrandt’s insolvency estate: the etching press?

Last week I reported on LinkedIn that available documents from the 17th century showed that Rembrandt used three etching presses throughout his life. In response to a question from an English artist, I addressed the etching press that (may or may not) have been part of his bankrupt estate in 1656 (www.rembrandtsmoney.com, and other podcast channels, titled “RM24017 – Where… Read More »2025-03-doc2 Rembrandt’s insolvency estate: the etching press?

2025-02-doc1 Insolvency and restructuring: what will the European Commission be doing in 2025?

European policies can influence current and new initiatives for EU regulations. What does 2025 have in store? On 27 November 2024, the European Parliament voted in favour of a new College of Commissioners proposed by President Ursula von der Leyen at the start of her second term as head of the European Commission. It was, however, not a clear win.… Read More »2025-02-doc1 Insolvency and restructuring: what will the European Commission be doing in 2025?

2025-01-doc1 Towards a new EU-wide legal statute for an Innovative European Company

Former European Central Bank president Mario Draghi published in September 2024 his longawaited report, “The future of European competitiveness”.  It sets out its already widely discussed competitiveness strategy for Europe. Draghi, who  became known as the saviour of the Euro during the Euro crisis, has proposed the creation of an Innovative European Company, the status of which would provide companies… Read More »2025-01-doc1 Towards a new EU-wide legal statute for an Innovative European Company

2024-12-doc5 Dutch court rules on foreign directors’ liability in landmark Petrobras case

At the end of October, a Dutch court dismissed a claim by a group of affected shareholders of Brazilian oil company Petrobras, ending a case that has been spanning for some 10 years. The shareholders will not receive compensation for price drops (“koersverlies”) caused by a bribery scandal in the multi-year, mass claims case. In this case, investors claimed damages… Read More »2024-12-doc5 Dutch court rules on foreign directors’ liability in landmark Petrobras case

2024-12-doc4 The Anatomy of Corporate Insolvency Law

Bork and Mangano. Without a doubt, the editors of this book, Prof. Reinhard Bork (Germany) and Prof. Renato Mangano (Italy), are among the most productive European scholars in the broad field of insolvency law. I’ve reviewed several of their writings (consult my blog: www.bobwessels.nl). These are among the most instructive and well-detailed works. This time, together with a group of… Read More »2024-12-doc4 The Anatomy of Corporate Insolvency Law

2024-12-doc2 Cross-border insolvency through Lithuanian eyes

Recently I received a book (232 pages), titled “Cross-Border Insolvency Proceedings”, with the subtitle “Policies and Directives in the European Union”. The publication presents in its core an analysis of the effectiveness of European Union cross-border insolvency proceedings. Evidently, its accent is on the development of cross-border insolvency proceedings established in the Insolvency Regulation ((EU) 2015/848), which came into effect… Read More »2024-12-doc2 Cross-border insolvency through Lithuanian eyes

2024-12-doc1 Re-examining Insolvency Law and Theory

‘In short, theory matters’, the three editors submit on the first page of their introduction to this book. They underline the important role that legal theory plays in the development of insolvency law. All 15 contributions (next to an introduction and a welcome editors’ conclusion) explore how law and theory are able to respond to issues of financial distress in… Read More »2024-12-doc1 Re-examining Insolvency Law and Theory

2024-10-doc1 Spanish banks beware of insolvent Dutch nationals with holiday homes

Spanish banks beware of insolvent Dutch nationals with holiday homes In a GRR column in May last year, I reported on a Dutch bankruptcy case in which a Spanish bank with a secured claim learned an expensive lesson when dealing with the bankrupt Dutch owners of a Spanish holiday home. The bank, Alicante-based Caixa Rural Altea Cooperativa de Credit Valencia… Read More »2024-10-doc1 Spanish banks beware of insolvent Dutch nationals with holiday homes

2024-08-doc1 Spanish employees versus German Air Berlin

The possible clash in powers between insolvency practitioners appointed in main and secondary insolvency proceedings were at stake in a decision of the Court of Justice of the EU in April this year. The case. In 2017, main insolvency proceedings were opened in Germany against Air Berlin Luftverkehrs KG. Where Air Berlin had an establishment in Spain, in 2020 secondary… Read More »2024-08-doc1 Spanish employees versus German Air Berlin