In 2019, the European Parliament and the Council adopted the Preventive Restructuring Directive (2019/1023), providing for minimum harmonisation of, among others, preventive restructuring frameworks (PRF). This book provides in-depth analyses of its implementation in seven European countries: Austria, Denmark, France, Germany, Greece, The Netherlands, and the United Kingdom. Whereas Member States of the European Union were under a duty to complete implementation by July 2022, the United Kingd...

From 2017 up to 2022, the Conference on European Restructuring and Insolvency Law (CERIL) has adopted 12 Reports and Statements which concern salient topics in the area of European restructuring and insolvency law. In those Reports and Statements, CERIL promotes long-term improvements in restructuring and insolvency frameworks across Europe. This book compiles these analyses and recommendations – resulting from extensive dialogues among CERIL Conferees – to the EU legislator, EU Member S...

Can bankruptcy law offer debt relief to third parties who are not involved in a formal procedure themselves? This question is explored both in relation to guarantees and in relation to mass tort liability and has been a main topic of controversy recently in the US, arising in cases such as Purdue Pharma and the opioid crisis. Taken together, the answer to these questions will be decisive in the future scope of bankruptcy law and its relation to other fields of law. In their reports written fo...