We are delighted to present the CMS Guide on Restructuring Possibilities in Europe. This report provides an overview of the various restructuring possibilities throughout 19 European jurisdictions.
While the European Commission strives for unity of laws within the European Union, it is clear that there are (and will most probably remain) numerous differences between in-court and out-of-court possibilities for restructuring. While these differences may create confusion and uncertainty, they can also create new possibilities.
In the recent CMS Guide to finding COMI 'forum shopping' was given consideration. This is relevant in this respect as well. Under certain circumstances it is possible to choose the national insolvency law that will apply. The CMS Guide on Restructuring Possibilities in Europe focuses both on the 'insolvency proceedings' as mentioned in the EC Insolvency Regulation (EIR) and on restructuring options that do not have a legal basis.
If you have any questions regarding the issues contained in this report, please contact us. A contact list is included at the end of this report.