https://eirjournal.com/ <p>The European Insolvency and Restructuring Journal is a fully open access and double-blind peer reviewed journal focused on the development of insolvency and restructuring laws and practice in Europe.</p> <p>The European Insolvency and Restructuring Journal (EIRJ) aims to provide a solid and authoritative forum for in-depth (comparative and empirical) articles on topics that are of relevance to the development of insolvency and restructuring laws and practice in Europe. It aims to promote academic discussion which crosses national boundaries, mainly in the field of European preventive restructuring and corporate insolvency law.</p> en-US no@gmail.com (Secretary to the Editorial Board) info@openjournals.nl (OpenJournals) Wed, 10 Apr 2024 15:19:52 +0200 OJS 3.3.0.7 http://blogs.law.harvard.edu/tech/rss 60 https://eirjournal.com/article/view/18764 <p>In this article, the author examines to what extent the European Insolvency Regulation (recast) authorizes Member States' courts to cooperate cross-border through appointing the same insolvency practitioner in insolvency proceedings relating to group companies (a so-called 'group insolvency practitioner'). The author concludes that, within certain boundaries which the article examines thoroughly, courts already can and should make such appointments. The article concludes with various recommendations in order to improve the useful application of this valuable cross-border insolvency tool.&nbsp;</p> <p>&nbsp;</p> Sid Pepels Copyright (c) 2024 European Insolvency and Restructuring Journal https://eirjournal.com/article/view/18764 Wed, 10 Apr 2024 00:00:00 +0200 https://eirjournal.com/article/view/19074 <p>Case note on AG Berlin Charlottenburg, 4.1.2024, NZI 2024, 193.</p> <div>This case note discusses the restructuring proceedings of Spark Networks SE under the German StaRUG. The plan aimed to financially reorganise the company, primarily its foreign law-governed debt and equity structure. The plan included an equity wipeout of existing shareholders, enabling one of the major creditors to assume control of the company through a debt-for-equity swap.</div> <div> </div> <div>Notably, the Spark Networks deliberately opted for a StaRUG proceeding over alternative options. This provided the Berlin restructuring court with an opportunity to address contentious legal issues stemming from the relatively new StaRUG legislation, particularly concerning company valuation and the fair distribution of the company’s value post-restructuring among plan stakeholders.</div> <div> </div> <div>Spark Networks' StaRUG proceedings received recognition as a foreign main proceeding under 11 U.S.C. § 101(23), paving the way for recognition of the plan under the U.S. Chapter 15 proceedings. Spark Networks' plan marks the first ever cross-border restructuring under the German StaRUG and U.S. Chapter 15.</div> <div> </div> Stephan Madaus Copyright (c) 2024 European Insolvency and Restructuring Journal https://eirjournal.com/article/view/19074 Thu, 25 Apr 2024 00:00:00 +0200