26 Márta 2013, 15:47
The Committee on Justice, Defence and Equality will discuss a Proposal for a Regulation of the European Parliament and of the Council amending Council Regulation (EC) No. 1346/2000 on insolvency proceedings with Minister for Justice and Equality Alan Shatter TD tomorrow, 27th March 2013.
The elements of the proposed reform of the Insolvency Regulation can be summarised as
follows:
• Scope: The proposal extends the scope of the Regulation by revising the definition of insolvency proceedings to include hybrid and pre-insolvency proceedings as well as debt discharge proceedings and other insolvency proceedings for natural persons which currently do not fit the definition;
• Jurisdiction: The proposal clarifies the jurisdiction rules and improves the procedural framework for determining jurisdiction;
• Secondary proceedings: the proposal provides for a more efficient administration of insolvency proceedings by enabling the court to refuse the opening of secondary proceedings if this is not necessary to protect the interests of local creditors, by abolishing the requirement that secondary
proceedings must be winding-up proceedings and by improving the cooperation between main and secondary proceedings, in particular by extending the cooperation requirements to the courts involved;
• Publicity of proceedings and lodging of claims: The proposal requires Member States to publish the relevant court decisions in cross-border insolvency cases in a publicly accessible electronic register and provides for the interconnection of national insolvency registers. It also introduces standard forms for the lodging of claims;
• Groups of companies: The proposal provides for a coordination of the insolvency proceedings concerning different members of the same group of companies by obliging the liquidators and courts involved in the different main proceedings to cooperate and communicate with each other; in
addition, it gives the liquidators involved in such proceedings the procedural tools to request a stay of the respective other proceedings and to propose a rescue plan for the members of the group subject to insolvency proceedings.
Committee Chairman David Stanton, TD, said: “We’re looking forward to our meeting with Minister Shatter to discuss this important EU proposal on insolvency proceedings. It provides an opportunity for Committee members to examine the proposals in detail and raise any issues or concerns they may have.”
The meeting will start in Committee Room 2, Leinster House at 11.30am on Wednesday, 27th March 2013.
Committee proceedings can be followed live at:
http://www.oireachtas.ie/parliament/watchlisten/
For further information please contact:
Ciaran Brennan,
Houses of the Oireachtas,
Communications Unit,
Leinster House,
Dublin 2
P: +3531 618 3903
M: 086-0496518
F: +3531 618 4551
Committee Membership
Deputies: Niall Collins (FF); Marcella Corcoran Kennedy (FG); Alan Farrell (FG); Anne Ferris (LAB) [Vice-Chairman]; Seán Kenny (LAB); Pádraig Mac Lochlainn (SF); Finian McGrath (IND); John Paul Phelan (FG); David Stanton (FG) [Chairman]
Senators: Ivana Bacik (LAB); Paul Bradford (FG); Martin Conway (FG); Rónán Mullen (IND); Denis O’Donovan (FF); Katherine Zappone (IND)