The European Union preventive restructuring framework: A hole in one?

Ehmke, David; Gant, Jennifer L.L.; Boon, Gert-Jan; Langkjaer, Line; Ghio, Emilie

Abstract

While traditionally (Continental) Europe has not been known for being particularly debtor- or restructuring-friendly, important reforms were implemented in recent decades that have fostered restructurings in Europe. In this article, we comparatively look a the status quo of insolvency and restructuring practice in five different European countries (Denmark, France, Germany, Netherlands, UK). We place our observations into the context of the preventive restructuring directive, to be implemented within the next two years after its publication on 26 June 2019. The directive leaves quite some room implementation, from a watered-down restructuring tool with high access threshold to a pre-insolvency debtor-friendly US-style restructuring procedure.

Citation

Ehmke, D., Gant, J. L., Boon, G.-J., Langkjaer, L., & Ghio, E. (2019). The European Union preventive restructuring framework: A hole in one?. International Insolvency Review, 28(2), 184-209. https://doi.org/10.1002/iir.1344

• Journal Article Type: Article
• Acceptance Date: Jul 8, 2019
• Online Publication Date: Aug 6, 2019
• Publication Date: Sep 1, 2019
• Deposit Date: Sep 3, 2021
• Print ISSN: 1180-0518
• Electronic ISSN: 1099-1107
• Publisher: Wiley
• Peer Reviewed: Peer Reviewed
• Volume: 28
• Issue: 2
• Pages: 184-209
• DOI: https://doi.org/10.1002/iir.1344
• Public URL: http://researchrepository.napier.ac.uk/Output/2799347