An Introduction to the Judicial Cooperation in Economic Recovery (JCOERE) Project

(2019) 74 Winter Eurofenix 28

3 Pages Posted: 4 Jun 2021

See all articles by Irene Lynch Fannon

Irene Lynch Fannon

University College Cork - School of Law

Jennifer L. Gant

University of Derby - School of Law and Criminology

Date Written: January 15, 2019

Abstract

JCOERE will focus on the strengthened co-operation obligations imposed on the judiciary in the Recast Regulation but will confine its enquiry to preventive restructuring processes. In addition to exploring challenges that procedural rules might present to co-operation, this project will focus on specific substantive problems that will likely become more acute in the restructuring context, such as the commencement of secondary proceedings to protect a creditor’s interests in the face of the ‘cram-down’ provisions as envisaged by the Directive. The question of whether it is reasonable for a court in the second state to decline jurisdiction becomes more immediate in such circumstances. Radical restructuring processes may make co-operation more difficult which may, in turn, inhibit restructuring in the EU.

With the introduction of more sweeping restructuring procedures throughout the EU under the proposed Directive, situations like SAIC are likely to become more common. The JCOERE project therefore addresses the implementation of cooperation obligations imposed on EU domestic courts by the Recast EIR in anticipation of the introduction of new preventive restructuring procedures.

Keywords: judicial cooperation; economic recovery; corporate restructuring

JEL Classification: G3

Suggested Citation

Lynch Fannon, Irene and Gant, Jennifer, An Introduction to the Judicial Cooperation in Economic Recovery (JCOERE) Project (January 15, 2019). (2019) 74 Winter Eurofenix 28, Available at SSRN: https://ssrn.com/abstract=3854629

Irene Lynch Fannon

University College Cork - School of Law ( email )

College Road
Cork, Cork T12 CC79
Ireland

HOME PAGE: http://research.ucc.ie/profiles/B012/ilynchfannon

Jennifer Gant (Contact Author)

University of Derby - School of Law and Criminology ( email )

Kedleston Road
Derby, Derbyshire DE22 1GB
United Kingdom

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