The Rise and Fall of Regulatory Competition in Corporate Insolvency Law in the European Union

30 Pages Posted: 31 May 2019 Last revised: 28 Jun 2019

See all articles by Horst Eidenmueller

Horst Eidenmueller

University of Oxford; European Corporate Governance Institute (ECGI)

Date Written: May 30, 2019

Abstract

In this essay, I discuss the rise and fall of regulatory competition in corporate insolvency law in the European Union. The rise is closely associated with the European Insolvency Regulation (EIR, 2002), and it is well-documented. The UK has emerged as the ‘market leader’, especially for corporate restructurings. The fall is about to happen, triggered by a combination of factors: the recasting of the EIR (2017), the European Restructuring Directive (ERD, 2019) and Brexit (2019). The UK will lose its dominant market position. I present evidence to support this hypothesis.

Keywords: Insolvency, Bankruptcy, Restructuring, Regulatory Competition, Brexit, European Directive

JEL Classification: D61, D7, G33, K00

Suggested Citation

Eidenmueller, Horst G. M., The Rise and Fall of Regulatory Competition in Corporate Insolvency Law in the European Union (May 30, 2019). Oxford Legal Studies Research Paper No. 37/2019; European Corporate Governance Institute - Law Working Paper No. 456/2019. Available at SSRN: https://ssrn.com/abstract=3396618 or http://dx.doi.org/10.2139/ssrn.3396618

Horst G. M. Eidenmueller (Contact Author)

University of Oxford ( email )

Mansfield Road
Oxford, Oxfordshire OX1 4AU
United Kingdom

European Corporate Governance Institute (ECGI) ( email )

c/o ECARES ULB CP 114
B-1050 Brussels
Belgium

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