| Commentary

19 Cross-border insolvency within Europe

| Commentary

C: RECAST EU REGULATION ON INSOLVENCY PROCEEDINGS

19 Cross-border insolvency within Europe

On 31 May 2002, the EC Regulation on insolvency proceedings1 came into effect in all member states of the European Union except Denmark, which opted out of it. As a European Regulation, it had direct application in the domestic law of the member states. It had no retrospective effect, and applied to all proceedings opened on or after 31 May 2002. This Regulation was recast (the ‘Recast Regulation’), coming into force on 26 June 2017. The Regulation deals with cross-border jurisdiction, cooperation, recognition and enforcement of insolvency proceedings in

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