Last week, in Singapore, 11 insolvency judges from 8 jurisductions met in Singapore for the inaugural Judicial Insolvency Network (‘JIN’). JIN, as a network of insolvency judges from around the world, aims to encourage communication and cooperation amongst national courts by pulling together the best practices in cross-border restructuring and insolvency to facilitate cross-court communication and cooperation, which has become… Read More »2016-10-doc8 Judicial Insolvency Network Initiated by Supreme Court of Singapore
Three Paradigm Shifts in Recent Bank Insolvency Law is the title of my latest article, with Matthias Haentjens as co-author. It will be published in (2016) 31 Journal of International Banking Law and Regulation, pp. 396-400. See its proof-print as attachment. haentjens_wessels_2016_jiblr_issue_7_press_proof.pdf We identify three paradigm shifts underlying recent developments in bank insolvency law. The ‘new normal’ of bank insolvency… Read More »2016-10-doc3 Three paradigm shifts in recent bank insolvency law
Although one would expect that under the EU Insolvency Regulation (EIR) after some fifteen years the concept of center of main interest (COMI) would be rather be clear, time and again a COMI controversy pops up. In a Dutch case, decided by the Court of Appeal Arnhem-Leeuwarden 15 August 2016, ECLI:NL:GHARL:2016:6546, this Court and the District Court of Gelderland (location… Read More »2016-10-doc1 COMI of Cloudiax
A doctorat for Xinyi Gong, that was the result after the defense of her PhD ‘A Balanced Way for China’s Inter-Regional Cross-Border Insolvency Cooperation’. This all took place at the University of Leiden, last Tuesday. I acted as her supervisor (promotor). Earlier on this blog (2016-09-doc8) I explained that her research analyses the rather peculiar situation that the People’s Republic… Read More »2016-09-doc12 Towards China’s Inter-regional Cross-border Insolvency Arrangement (CICIA)
Recently published in European Company Law (no. 4, 2016) my review of two recent books on the EU Insolvecy Regulation (recast): Reinhard Bork and Renato Mangano, European Cross-border Insolvency Law, and Gabriel Moss, Ian F. Fletcher and Stuart Isaacs (eds.), The EU Regulation on Insolvency Proceedings, 3rd. ed, both published by Oxford University Press 2016. See eucl_wessels_13-4.pdf
We Can Work It Out: Cross-border Judicial Cooperation in Insolvency Cases in the EU, is the title of a paper, which will be published in: Yves Brulard (ed.), Code de l’insolvabilité internationale, européenne et nationale. Tome 1, Bruxelles: Anthemis 2016 (forthcoming). The paper was delivered in February 2015 during an international insolvency conference in Brussels. It deals with the draft… Read More »2016-08-doc8 Cross-border cooperation between insolvency practitioners and courts
During the INSOL International Global Practice course (first module 7-9 November 2916, London) I will discuss the theme of cross-border communication and cooperation in insolvency cases. As an aid in practice, in 2007 the European Communication and Cooperation Guidelines For Cross-Border Insolvency (‘CoCo Guidelines’) were drafted by prof. Miguel Virgós (Madrid) and myself, assisted by many others, including judges and… Read More »2016-08-doc2 Full text CoCo Guidelines
Welcome to the European Union: 28 Member States, using over 20 authentic languages! When one comes to the use of language in cross-border insolvency cases in Europe, there is a large contrast between the languages that national courts are using, and the languages in which communication takes places between insolvency practitioners. Article 31 of the existing European Insolvency Regulation (EIR)… Read More »2016-07-doc9 What language to use in EU insolvency cross-border cases?
The European Union Commission has announced that an agreement has been reached to adopt English as the preferred language for communications within the EU, rather than German, which was the other possibility. As part of the final negotiations however, Her Majesty’s Government conceded that English spelling had some room for improvement and has accepted a five-year phased plan for what… Read More »2016-06-doc7 English in the EU
A VAT matter (to which the VAT Directive 2006/112/EC is applicable) in the context of an arrangement presented to creditors by the insolvent debtor has been decided upon by CJEU 7 April 2016, Case C 546/14 (Degano Trasporti Sas di Ferruccio Degano & C., in liquidation, v Pubblico Ministero presso il Tribunale di Udine). At the judges’ desk is a provision… Read More »2016-04-doc5 Does a tax rule bend for a rescue arrangement?