Nottingham Insolvency Academic Joins EU Experts Group

Paul Omar has been invited to join the newly formed Expert's Group on Constructing and Insolvency.

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Paul Omar

Paul Omar, Professor of International and Comparative Insolvency Law at the Nottingham Law School, and member of the Centre for Business and Insolvency Law, has been invited by the European Commission to join the newly formed Experts' Group on Restructuring and Insolvency. The invitation, which came in November 2015, is to take part in the deliberations of a 20-strong committee, containing members from across the European Union and representing academia, practice, the judiciary and policy-makers. The role of the experts in the group will be, over the course of 2015-2018, to assist the Directorate-General Justice and Consumers in the formulation of minimum standards for a new and harmonized restructuring and insolvency law for the European Union.

The proposed law is intended in part to address the terms set out in the Recommendation of 12 March 2014 on A New European Approach to Business Failure and Insolvency, which promoted a vision of what European insolvency should look like and contained a special focus on the needs of small- and medium-enterprises (SMEs) as well as entrepreneurs. The remit of the Experts' Group not only covers the development of common principles and rules in the area of preventive restructuring procedures that were the subject of the 2014 Recommendation, but also common principles and rules in relation to formal insolvency procedures, the promotion of second chances for honest debtors (natural persons), the qualification of insolvency practitioners, the duties and liabilities of directors in insolvency as well as measures seeking to reduce costs for SMEs in restructuring and insolvency procedures as well as facilitating their access to such procedures. In addition, the Experts'Group will be tasked with ensuring that any common principles and rules that are proposed are consonant with the European Insolvency Regulation, which deals with the coordination of cross-border insolvency cases.

Paul’s qualifications for membership of the Expert Group stem from his long held interest in European insolvency law. His doctoral project was on the genesis of European insolvency law and saw the publication of a text titled European Insolvency Law in 2004. He has since published extensively in the European, international and comparative insolvency law fields with numerous texts and over 200 articles to his credit. Throughout his career, Paul has also been active in INSOL Europe, a 1,200-strong body representing the insolvency community in Europe, serving as the Secretary of its Academic Forum and as a member of the INSOL Europe Joint Academic-Practitioner Project on Cooperation and Communications. Paul has also recently completed a project on European Judicial Training, jointly organized with the University of Leiden and supported by funding from the European Commission. In the past few years, he has also been involved as an advisor on insolvency law reform projects for the World Bank and Council of Europe.

The Centre for Business and Insolvency Law is pleased at the invitation Paul has received, which reflects the mission of the Centre to be a focus of high-quality research and teaching as well as engagement with insolvency academia, practice and policy-making.

Nottingham Insolvency Academic Joins EU Experts Group

Published on 10 December 2015
  • Category: Business; Nottingham Law School

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