Stimulating Green Shoots of Recovery at Brussels Conference

Professor Paul Omar was recently invited to participate in a conference hosted by the European Commission, held in Brussels on 12 July 2016.

Professor Paul Omar
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Professor Paul Omar has been over in Brussels, where he participated in a conference hosted by the European Commission

Professor Paul Omar, member of the Centre for Business and Insolvency Law at Nottingham Law School, was recently invited to participate in a conference hosted by the European Commission, held in Brussels on 12 July 2016. The event, on the theme of 'Convergence of Insolvency Frameworks within the European Union: The Way Forward', was held under the auspices of the Directorate-General of Justice and Consumers. The conference was attended by over 250 academics, practitioners, banking experts, judges and policy makers from across the European Union and further afield.

The theme of the conference centred on the promotion of a new strategy to encourage preventive restructurings of businesses undergoing difficulties in order to avoid the application of insolvency procedures. Such preventive or pre-insolvency measures have a more recent history of use, having been developed in the past few years in a number of economically successful jurisdictions, such as the United Kingdom, France and the Netherlands.

In fact, the European Commission issued a Recommendation in March 2014 advising member states to make provision in domestic law for anticipatory rescue procedures that targeted, in particular, small- and medium-enterprises. With the recent formation of an Experts' Group on Restructuring and Insolvency in January 2016, of which Paul is a member, a text on preventive restructurings and second chances for entrepreneurs is being prepared for formal adoption by the European Commission on 26 October 2016.

Stimulating Green Shoots of Recovery at Brussels Conference

Published on 19 July 2016
  • Category: Research; Nottingham Law School

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