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This note seeks to provide an initial analysis of the strengths and weaknesses of the European Commission's Impact Assessment (IA) accompanying the proposal for a revised Regulation on insolvency proceedings, submitted on 12 December 2012. It does not attempt to deal with the substance of the proposal. It is drafted for informational and background purposes to assist the relevant parliamentary committee(s) and Members more widely in their work.

Currently, insolvency law is not harmonised at EU level. However, the Insolvency Regulation, adopted in 2000, lays down the rules on jurisdiction, recognition and applicable law in the field in respect of cross-border insolvency. The Commission has recently proposed its reform.

This study investigates whether private insurance contracts can be a substitute to investment compensation schemes (ICS). Starting by describing the scope of events (fraud, administrative malpractice, operational error and bad advice) which are covered by ICS, the study continues to analyse whether existing insurance products offer cover for this. Then the authors analyse the economic advantages and disadvantages, costs and legal challenges of partially and/or fully substituting ICS with private ...

This workshop aims to prepare the upcoming discussion on the expected Commission proposal for a securities law directive (SLD) which is expected to be adopted in Summer 2011 and the subsequent report of the Committee on Economic and Monetary Affairs. It is linked to the briefing paper PE 464.416 on 'cross-border issues of securities law: European efforts to support securities markets with a coherent legal framework' and is designed to illustrate present European and U.S. regulation on securities ...

This note supplements the note “Harmonisation of Insolvency Law at EU Level“, dated April 2010 which had been requested by the European Parliament Committee on Legal Affairs. It is intended to serve as a further basis for the “Workshop on Harmonisation of Insolvency Proceedings at EU Level” on 22 March 2011, and, in accordance with the request, to provide a detailed statement on the insolvency law issues arising in respect of Avoidance Actions and Rules on Contracts (plus extended Retention of Title ...

This briefing note refers to recommendations regarding the harmonisation of laws of Member States regulating insolvency proceedings, and, without being exhaustive, further explores arguments for harmonisation and potential difficulties that occur, or may occur, as a result of differences between laws in the following three areas: opening of insolvency proceedings; claims filing and verification; reorganisation plans.

The review of the Council Regulation (EC) N° 1346/2000 of 29 May 2000 on insolvency proceedings is due for 1 June 2012. This note contains the most important issues that INSOL Europe’s working group considers relevant for revision.

This compilation of briefing papers deals with two specific issues in relation to the Commission Proposal to amend Directive 97/9/EC on Investor Compensation Schemes (ICS), more specifically on how to safeguard investors' interests by ensuring sound financing of ICS. The first two notes discuss the proposed borrowing mechanism (namely questions such as: Is the proposed compulsory borrowing mechanism an adequate solution which does not lead to moral hazard? Which alternatives to the mutual borrowing ...

This note identifies and outlines disparities between national insolvency laws, which can create obstacles, competitive advantages and/or disadvantages and difficulties for companies having cross-border activities or ownership within the EU. In particular, it provides a list of problems which might occur in the absence of common rules on insolvency, such as problems related to insolvency of corporate groups, liability of shareholders being nationals of different Member States, reference to national ...

Esta nota informativa tiene por objeto proporcionar información de contexto sobre algunos aspectos cruciales que explican el impacto de la crisis económica en el sector del transporte aéreo de la Unión Europea. Primero se analiza la repercusión actual de la crisis económica en el transporte de mercancías y pasajeros utilizando una serie de indicadores clave. A continuación se describen algunos escenarios posibles para el desarrollo a medio plazo del sector del transporte aéreo en relación con posibles ...