The relationship between the European Insolvency Regulation and the UNCITRAL Model Law on Cross-Border Insolvency

Department of Private Law's seminar-series. Presentation by Professor Dr. Reinhard Bork, Hamburg University.

After the seminar we also invite to a reception to mark the occation of the Department of Private Law’s day of Foundation.

"Kjerka", Domus Media Vest

The seminar is open for all interested.

Abstract

Insolvency proceedings against a debtor with assets in more than one country raise several complicated issues regarding jurisdiction and applicable law. Which state has jurisdiction to open insolvency proceedings? Can insolvency proceedings be opened in more than one state? Must the proceedings be recognised in other states in which the debtor has assets? Which law is applicable regarding security rights, the debtor’s cross-border contracts, or set-off of claims?

The relevance of such issues in Norwegian law is apparent in recent court practice (see for example Norsk Retstidende 2013 page 556).

Within the European Union, the inter-legal insolvency issues are dealt with by the European Insolvency Regulation – a recast version will enter into force 26 June 2017. The Regulation is not included in the EEA agreement.

Rules on cross-border insolvency were introduced in the Norwegian Bankruptcy Act in 2016, but these rules will be applicable only after agreements have been reached with other states on reciprocal recognition of insolvency proceedings.

The United Nations Commission on International Trade Law (UNCITRAL) has adopted a Model Law on Cross-Border Insolvency. This Model Law, as well as the Insolvency Regulation, represents a recognition of crucial principles which are relevant both in national legislation and case law.

Professor Dr. Reinhard Bork is the holder of the Lehrstuhl für Zivilprozess and Allgemeines Prozessrecht at the University of Hamburg and is a civil law scholar of outstanding international reputation. Among his many publications is a textbook on insolvency law (7th edition, 2014).

Invitation to Department of Private Law's day of Foundation 

Following the seminar, we invite all participants at the seminar, and all employees of the Department of Private Law, to a reception to celebrate the anniversary of the Foundation of the Departement of Private Law (the actual anniversary day is March 11).  We serve finger food and drinks, and to facilitate preparations, we kindly ask for separate registration for this event.

Registration - Seminar and reception

Please register for the seminar and/or the reception, by 13 March. (Limited number of seats available.)

 

 

Published Jan. 10, 2017 9:48 AM - Last modified Oct. 12, 2018 10:21 AM