PUBLIC I. INTRODUCTION

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1 ConseilUE Councilofthe EuropeanUnion Brussels,19September /14 InterinstitutionalFile: 2012/0360(COD) LIMITE PUBLIC JUSTCIV224 EJUSTICE80 CODEC1835 I/A ITEMNOTE From: Presidency To: Coreper/Conseil No.prev.doc.: 12051/14JUSTCIV205EJUSTICE67CODEC1646 No.Cionprop.: 17883/12JUSTCIV365CODEC3077+ADD1+ADD2 Subject: ProposalforaRegulationoftheEuropeanParliamentandoftheCouncil amendingcouncilregulation(ec)no1346/2000oninsolvencyproceedings [Firstreading] - GeneralApproachonRecitalsandAnnexes I. INTRODUCTION 1. Byleterof13December2012,theCommisionforwardedtotheCouncilaproposalfora RegulationoftheEuropeanParliamentandoftheCouncilamendingCouncilRegulation(EC) No1346/2000oninsolvencyproceedings(the"proposedInsolvencyRegulation").The proposedinsolvencyregulationisaimedadmodifyingcouncilregulation(ec)no 1346/2000oninsolvencyproceedings(the"curentInsolvencyRegulation") /14 AVI/abs 1 DGD2A LIMITE EN

2 2. TheproposedInsolvencyRegulationisaimedatmakingcros-borderinsolvencyproceedings moreeficientandefectivewithaviewtoensuringthesmoothfunctioningoftheinternal marketanditsresilienceineconomiccrises. ThisobjectiveisinlinewiththeEuropean Union'scurentpoliticalprioritiestopromoteeconomicrecoveryandsustainablegrowth,a higherinvestmentrateandthepreservationofemployment,assetoutundertheeurope2020 strategy,andtosafeguardthedevelopmentandthesurvivalofbusineses,asstatedinthe SmalBusinesAct. 3. AspartoftheoveralJusticeforGrowthProgramme,theproposedInsolvencyRegulationis animportantelementofthebroadeuropeanunionresponsetothesignificanteconomic dificultiesbeingexperiencedbymanycompaniesandcitizensthroughouttheunion. 4. InaccordancewithArticle3oftheProtocolonthepositionoftheUnitedKingdomand Irelandinrespectoftheareaoffreedom,securityandjustice,annexedtotheTreatyon EuropeanUnionandtotheTreatyontheFunctioningoftheEuropeanUnion,theUnited Kingdom 1 andireland 2 havenotifiedtheirwishtotakepartintheadoptionandapplicationof theproposedinsolvencyregulation. 5. InaccordancewithArticles1and2oftheProtocolonthepositionofDenmark,annexedto thetreatyoneuropeanunionandtothetreatyonthefunctioningoftheeuropeanunion, DenmarkisnottakingpartintheadoptionoftheproposedInsolvencyRegulationandwilnot beboundbyitorsubjecttoitsapplication. 6. TheEuropeanEconomicandSocialCommiteeadopteditsopinionontheproposed InsolvencyRegulationon22 May See6106/13JUSTCIV81CODEC811. See8325/13JUSTCIV79CODEC /14 AVI/abs 2 DGD2A LIMITE EN

3 7. On5and6June2014,theCouncil(JusticeandHomeAfairs)reachedanagreement(the generalapproach ) 3 onthenormativepartoftheproposedinsolvencyregulationandcaled forworkontheremainingrecitalsandannexestobefinalisedattechnicallevelassoonas posible. 8. ThePresidencyhasputtheexaminationoftheproposedInsolvencyRegulationatthetopof itsagendaowingtotheimportanceofeficientcros-borderinsolvencyproceedingsforthe EuropeaneconomyandinresponsetotheEuropeanCouncil'scalforaswiftexamination. 9. SinceJune2014,substantialprogreshasbeenmadeinthediscusionsinthe WorkingParty oncivillaw Matters(Insolvency)concerningtheexaminationoftherecitalsandofthe AnnexestotheproposedInsolvencyRegulation. I. REMAININGELEMENTSINTHEGENERALAPPROACH RECITALS 10. The WorkingPartyonCivilLaw Maters(Insolvency)examinedtherecitalsandaligned them,wherenecesary,totheamendmentsofthearticles,onthebasisofthegeneral approach. ANNEXES 11. On3July2014,thePresidencyinvitedthe MemberStatestoinformtheCouncilSecretariatof modificationstheywouldwishtoseeintroducedin therevisedannexesoftheproposed InsolvencyRegulation,onthebasisofthegeneralapproach. 12. On11September2014,anupdatedtext,reflectingthemodificationsoftheAnnexesas notifiedbythe MemberStates,wasexaminedatameetingofthe WorkingPartyonCivilLaw Maters(Insolvency). 3 See10284/14JUSTCIV134EJUSTICE54CODEC1366+ADD1+COR /14 AVI/abs 3 DGD2A LIMITE EN

4 13. TheCommisionacknowledgedthatthevarioustypesofinsolvencyproceedingsandof insolvencypractitionersproposedbythe MemberStateswereinlinewiththerequirementsof Article1(1)andArticle2(4)(b)respectivelyoftheproposedInsolvencyRegulation. 14. Atthesamemeeting,oneMemberStateindicatedthatitwasrevisingitsnationallegislation oninsolvencyandthatnewinsolvencyproceedings,whichcouldbeincludedintheannexes, mightbeadoptedat nationallevel.twoother MemberStatesindicatedthattheywerestil reflectinginternalyweathercertaintypesofnationalinsolvencyproceedingsmightfal withinthescopeoftheproposedinsolvencyregulationandshouldthereforebeincludedin theannexes. 15. Inviewoftheabove,adegreeofflexibility,asregardsthefinaltextoftheAnnexes,shouldbe maintainedinordertoalowtothe MemberStatesconcernedtocommunicatetheirfinal viewsonthecontentoftheannexesassoonasposibleand,atanyrate,bymid-november 2014,atthelatest,soasnottodisruptthetimelyconclusionofthenegotiationswiththe EuropeanParliament. 16. Thereappearstobebroadagreementamongstthe MemberStatesregardingthetextofthe remainingrecitalsandannexes.consequently,thepresidencyisoftheopinionthatapartial generalapproachcanbeachievedonthetextoftherecitalsandannexesaspresentedin AnnexIandAnnexIrespectivelytothisnote. 17. Therefore,thePresidencysubmitstoCoreper/CouncilacompromisetextsetoutinAnnexesI anditothisnotefortheadoptionofapartialgeneralapproach /14 AVI/abs 4 DGD2A LIMITE EN

5 I. CONCLUSION 18. Againstthisbackdrop,Coreper/Councilisinvitedto: (a) confirmapartialgeneralagreementonthecompromisetextassetoutinannexesiand Itothisnote;and (b) agreethatthistextwilconstitute,togetherwiththejune2014generalapproach,the basisforthenegotiationswiththeeuropeanparliament /14 AVI/abs 5 DGD2A LIMITE EN

6 ANNEXI 1 Proposalfora 2012/0360(COD) REGULATIONOFTHEEUROPEANPARLIAMENTANDOFTHECOUNCIL amendingcouncilregulation(ec)no1346/2000oninsolvencyproceedings THEEUROPEANPARLIAMENTANDTHECOUNCILOFTHEEUROPEANUNION, HavingregardtotheTreatyontheFunctioningoftheEuropeanUnion,andinparticularArticle81 thereof, HavingregardtotheproposalfromtheEuropeanCommision, AftertransmisionofthedraftlegislativeacttothenationalParliaments, HavingregardtotheopinionoftheEuropeanEconomicandSocialCommitee 2, Actinginaccordancewiththeordinarylegislativeprocedure, AfterconsultingtheEuropeanDataProtectionSupervisor 3, Whereas: ChangestothetextoftheCommisionproposalaremarkedinboldforaddedtextorby( ) fordeletedtext. OJC,,p.. OJC,,p /14 AVI/abs 6

7 (1) CouncilRegulation(EC)No1346/ establishedaeuropeanframeworkforcros-border insolvencyproceedings.itdetermineswhich MemberStatehasjurisdictionforopening insolvencyproceedings,establishesuniformrulesonapplicablelawandprovidesforthe recognitionandenforcementofinsolvency-relateddecisionsaswelasforthecoordination ofmainandsecondaryinsolvencyproceedings. (2) TheCommision'sreportontheapplicationofRegulation(EC)No1346/2000of12 December concludesthattheregulationisfunctioningwelingeneralbutthatitis desirabletoimprovetheapplicationofcertainofitsprovisionsinordertoenhancethe efectiveadministrationofcros-borderinsolvencyproceedings. (3) ThescopeofRegulation(EC)No1346/2000shouldbeextendedtoproceedingswhich promotetherescueof( )economicalyviable( )butdistresedbusineses( )and giveasecondchancetoentrepreneurs.itshouldnotablyextendtoproceedingswhich providefortherestructuringofadebtorata( )stagewherethereisonlyalikelihoodof insolvencyorwhichleavethe( )debtorfulyorpartialyincontrolofhisasetsand afairs.theregulationshouldalsocoverthoseproceedingsprovidingforadebtdischarge ofconsumersandself-employedpersonswhichdonotfulfilthecriteriaof( )Regulation (EC)No1346/2000. (4) Therulesonjurisdictionforopeninginsolvencyproceedingsshouldbeclarifiedandthe proceduralframeworkfordeterminingjurisdictionshouldbeimproved.thereshouldalso beanexplicitruleonjurisdictionforactionswhicharederivingdirectlyfrominsolvency proceedingsorarecloselylinkedwiththem. 4 5 OJL160, ,p.1. OJC,,p /14 AVI/abs 7

8 (5) Inordertoimprovetheefectivenesoftheinsolvencyproceedingsincaseswherethe debtorhasanestablishmentinanother MemberState,therequirementthatsecondary proceedingsmustbewinding-upproceedingsshouldbeabolished. Moreover,acourtshould beabletorefusetheopeningofsecondaryproceedingsif( )itissatisfiedthatan undertaking,givenbytheinsolvencypractitionerinthemainproceedingsand acceptedbylocalcreditorsattherequiredmajority,adequatelyprotectstheinterestsof localcreditors.thecoordinationbetweenmainandsecondaryproceedingsshouldbe improved,inparticularbyrequiringthecourtsinvolvedtocooperate. (6) Inordertoimprovetheinformationavailabletocreditorsandcourtsinvolvedandtoprevent theopeningofparalelinsolvencyproceedings, MemberStatesshouldberequiredtopublish informationrelatingtorelevantdecisionsincros-borderinsolvencycasesinapublicly accesibleelectronicregister.provisionshouldbemadefortheinterconnectionof insolvencyregisters.standardformsforthelodgingofclaimstofacilitatethetasksof foreigncreditorsandreducetranslationcostsshouldbeintroduced. (7) Thereshouldbespecificrulesdealingwithinsolvency( )proceedingsinvolvingdiferent membersofthesamegroupofcompanies.theinsolvencypractitionersandcourts involvedinthediferentinsolvencyproceedingsshouldbeobligedtocooperateand communicatewitheachother.inaddition,thisregulationshouldintroduceprocedural rulesonthecoordinationoftheproceedingsrelatingtodiferentmembersofthegroup andprovidefortheappointmentofagroupcoordinator. Moreover,anyofthe insolvencypractitionersinvolvedshouldhavetheproceduraltoolstoproposearescueplan fortheinsolventgroupcompaniesnotsubjecttocoordinationproceedings,( )andto request,wherenecesary,astayoftheseinsolvencyproceedings( ).Thedefinitionofthe term"groupofcompanies"shouldbeunderstoodasbeinglimitedtothecontextof insolvencyandshouldnothaveanyinfluenceonthecompanyaspectsregardinggroups /14 AVI/abs 8

9 (8) Regulation(EC)No1346/2000,includingitsAnnexes,shouldthereforebeamended accordingly. (9) TheamendmentofthisRegulationshouldbewithoutprejudicetotherulesontherecovery ofstateaidfrominsolventcompaniesasinterpretedbythecase-lawofthecourtofjustice oftheeuropeanunion. (10) InaccordancewithArticle( )3of( )ProtocolNo.21onthepositionoftheUnited KingdomandIrelandinrespectoftheareaoffreedom,securityandjustice,annexedtothe TreatyonEuropeanUnionand tothetreatyonthefunctioningoftheeuropeanunion,the UnitedKingdomandIrelandhavegivennoticeoftheirwishtotakepartintheadoptionand applicationofthisregulation. (11) Denmark,inaccordancewithArticles1and2oftheProtocolonthepositionofDenmark, annexedtothetreatyoneuropeanunionandtothetreatyonthefunctioningofthe EuropeanUnion,isnotparticipatingintheadoptionofthisRegulation,andisthereforenot boundbyitnorsubjecttoitsapplication. HAVEADOPTEDTHISREGULATION: 13276/14 AVI/abs 9

10 Article1 CouncilRegulation(EC)No1346/2000isamendedasfolows: (1) InRecital2,thereferencetoArticle65isreplacedbyareferencetoArticle81. (2) InRecitals3,5,8,11,12,14and21,theterm"Community"isreplacedby"Union". (3) Recital4isreplacedbythefolowing: "(4) Itisnecesaryfortheproperfunctioningoftheinternalmarkettoavoidincentives forthepartiestotransferasetsorjudicialproceedingsfromone MemberStateto another,seekingtoobtainamorefavourablelegalpositiontothedetrimentofthe generalbodyofcreditors(forumshopping)." (4) Recital6isreplacedbythefolowing: "(6) ThisRegulationshouldencompasprovisionsgoverningjurisdictionforopening insolvencyproceedingsand( )actionswhicharederivingdirectlyfromthe insolvencyproceedingsandareclosely( )linkedwiththem.thisregulation shouldalsocontainprovisionsregardingtherecognitionandenforcementof judgmentsisuedinsuchproceedingsandprovisionsregardingthelawapplicableto insolvencyproceedings.inaddition,thisregulationshouldcontainrulesonthe coordinationofinsolvencyproceedingswhichrelatetothesamedebtorortoseveral membersofthesamegroupofcompanies." 13276/14 AVI/abs 10

11 (5) Recital7isreplacedbythefolowing: "(7) Bankruptcy,proceedings( )relatingtothewinding-upofinsolventcompaniesor otherlegalpersons,judicialarangements,compositionsandanalogousproceedings andactionsrelatedtosuchproceedings 6 areexcludedfromthescopeof( ) Regulation(EU)No1215/2012oftheEuropeanParliamentandoftheCouncil of12december2012onjurisdictionandtherecognitionandenforcementof judgmentsincivilandcommercialmaters 7.Theseproceedingsshouldbecovered bythepresentregulation.theinterpretationofthisregulationshouldasmuchas posibleavoidregulatoryloopholesbetweenthetwoinstruments. However,themerefactthatanationalprocedureisnotlistedinAnnexAtothis RegulationshouldnotimplythatthisprocedureiscoveredbyCouncil Regulation(EC)No1215/2012." (6) Recital9isreplacedbythefolowing: "(9) ThisRegulationshouldapplytoinsolvencyproceedingswhichfulfiltheconditions setoutinthisregulation,irespectiveofwhetherthedebtorisanaturalpersonora legalperson,atraderoranindividual. ThoseinsolvencyproceedingsarelistedexhaustivelyinAnnexA. Whenanational procedurefiguresinannexa,thisregulationshouldapplywithoutanyfurther examinationbythecourtsofanother MemberStateregardingwhethertheconditions setoutinthisregulationarefulfiled.whenanationalinsolvencyprocedureis notlistedinannexa,thatprocedureshouldnotbecoveredbythescopeofthis Regulation." 6 7 Notetotranslators:thewords"Bankruptcy,proceedingsrelatingtothewinding-upof insolventcompaniesorotherlegalpersons,judicialarangements,compositionsand analogousproceedings"havebeentakenfromarticle1(2)(b)of Regulation(EU) No1215/2012. OJL351, ,p /14 AVI/abs 11

12 (7) Thefolowingrecitalsareinserted: "(9a) ThescopeofthisRegulationshouldextendtoproceedingswhichpromotetherescue of( )economicalyviable( )butdistresedbusineses( )andgiveasecond chancetoentrepreneurs.itshouldnotablyextendtoproceedingswhichprovidefor therestructuringofadebtorata( )stagewherethereisonlyalikelihoodof insolvencyandproceedingswhichleavethe( )debtorfulyorpartialyin controlofhisasetsandafairs.itshouldalsoextendtoproceedingsprovidingfor adebtdischargeoradebtadjustmentofconsumersandself-employedpersons,for examplebyreducingtheamounttobepaidbythedebtororbyextendingthe paymentperiodgrantedtohim.sincetheseproceedingsdonotnecesarilyentail theappointmentofaninsolvencypractitioner,theyshouldbecoveredbythis Regulationiftheytakeplaceunderthecontrolorsupervisionofacourt.Inthis context,theterm"control"shouldincludesituationswherethecourtonlyintervenes onappealbyacreditororotherinterestedparties. (9b) ThisRegulationshouldalsoapplytoprocedures whichgrantatemporary moratorium onenforcementactions 8 broughtbyindividualcreditorswhere suchactionsmayadverselyafectnegotiationsandhampertheprospectsofa restructuringofthedebtor'sbusines.suchproceduresshouldnotbe detrimentaltothegeneralbodyofcreditorsandshouldbepreliminarytoother procedurescoveredbythescopeofthisregulationifnoagreementona restructuringplancanbereached. 8 "Moratoriumonenforcementactions"shouldbetranslatedintoFrenchas"suspensiondes poursuitesindividueles" /14 AVI/abs 12

13 (9c) ThisRegulationshouldapplytoproceedingstheopeningofwhichissubjectto publicityinordertoalowcreditorstobecomeawareoftheproceedingsandto lodgetheirclaims,therebyensuringthecolectivenatureoftheproceedings, andinordertogivecreditorstheposibilitytochalengethejurisdictionofthe courtwhichhasopenedtheproceedings. Accordingly,thisRegulationshouldnotencompasinsolvencyproceedings whichareconfidential. Whiletheseproceedingsmayplayanimportantrolein some MemberStates,theirconfidentialnaturemakesitimposiblefora creditororacourtlocatedinanother MemberStatetoknowthatsuch proceedingshavebeenopened,therebymakingitdificulttoprovideforthe recognitionoftheirefectseu-wide. (9d) Thecolectiveproceedingswhicharecoveredbythescopeofapplicationofthis Regulationshouldincludealorasignificantpartofthecreditorstowhomthe debtorowesalorasubstantialproportionofhisoutstandingdebtsprovided thattheclaimsofthosecreditorswhoarenotinvolvedinsuchproceedings remainunafected.thisshouldalsoincludeproceedingswhichinvolveonlythe financialcreditorsofthedebtor.proceedingswhichdonotincludealthe debtor screditorsshouldbeproceedingsaimedatrescuingthedebtor.the proceedingsthatleadtoadefinitivecesationofthedebtor sactivitiesorthe liquidationofhisasetsshouldincludealthedebtor screditors. Moreover,the factthatsomeinsolvencyproceedingsfornaturalpersonsexcludespecific categoriesofclaims,suchasmaintenanceclaims,fromtheposibilityofadebtdischargeshouldnotmeanthatsuchproceedingsarenotcolective /14 AVI/abs 13

14 (9e) ThisRegulationshouldalsoapplytoproceedingsthat,underthelawofsome MemberStates,areopenedandconductedforacertainperiodoftimeonan interimorprovisionalbasisbeforeacourtisuesanorderconfirmingthe continuationoftheproceedingsonanon-interimbasis.exceptforbeing labeledas"interim",theseproceedingsshouldmeetalotherrequisitesofthis Regulation. (9f) ThisRegulationshouldapplytoproceedingswhicharebasedonalawrelating toinsolvency.however,proceedingsthatarebasedongeneralcompanylawnot designedexclusivelyforinsolvencysituationsshouldnotbeconsideredtobe basedonalawrelatingtoinsolvency.similarly,thepurposeofadjustmentof debtshouldnotincludespecificproceedingsinwhichdebtsofanaturalperson ofverylowincomeandverylowasetvaluearewritenof,providedthatthis typeofproceedingsnevermakesprovisionsforpaymenttocreditors. (9g) TheRegulation sscopeshouldextendtoproceedingswhicharetriggeredby situationsinwhichthedebtorfacesnon-financialdificulties,providedhowever, thatthesedificultiesgiverisetoarealandseriousthreattothedebtor sactual orfutureabilitytopayhisdebtsastheyfaldue.thetimehorizonrelevantfor thedeterminationofsuchthreatmayextendtoaperiodofseveralmonthsor evenlongerinordertoaccountforcaseswherethedebtorisfacedwithnonfinancialdificultiesthreateninghisgoingconcernand,inthemediumterm,his liquidity.thismightbethecase,forexample,ifthedebtorhaslostacontract whichisofkeyimportancetohim /14 AVI/abs 14

15 (9h) Insolvencyproceedingsconcerninginsuranceundertakings,creditinstitutions, investmentfirmsandotherfirms,institutionsorundertakingstotheextent thesearecoveredbydirective2001/24/ecoftheeuropeanparliamentandof thecouncilof4april2001onthereorganisationandwinding-upofcredit institutions 9 (asamended)andcolectiveinvestmentundertakingsshouldbe excludedfromthescopeofthisregulation.suchundertakingsshouldnotbe coveredbythisregulationsincetheyaresubjecttospecialarrangementsand thenationalsupervisoryauthoritieshavewide-rangingpowersofintervention." (8) Recital10isreplacedbythefolowing: "(10) Insolvencyproceedingsdonotnecesarilyinvolvetheinterventionofajudicial authority;therefore,theexpresion'court'inthisregulationshould,incertain provisions,begivenabroadmeaningandincludeapersonorbodyempoweredby nationallawtoopeninsolvencyproceedings.inorderforthisregulationtoapply, proceedings(comprisingactsandformalitiessetdowninlaw)shouldnotonlyhave tocomplywiththeprovisionsofthisregulation,buttheyshouldalsobeoficialy recognisedandlegalyefectiveinthe MemberStateinwhichtheinsolvency proceedingsareopened." (8a) Thefolowingrecital10aisinserted: "(10a)InsolvencypractitionersaredefinedinthisRegulationandlistedinAnnexC. Insolvencypractitionerswhoareappointedwithouttheinvolvementofa judicialbodyshould,undernationallaw,beappropriatelyregulatedand authorisedtoactininsolvencyproceedings,andthenationalregulatory frameworkshouldprovideforproperarrangementstodealwithpotential conflictofinterests." 9 OJL125, ,p /14 AVI/abs 15

16 (8b) Thefolowingsubparagraphisaddedtorecital12: "Wheremainproceedingsconcerningalegalpersonorcompanyhavebeen openedina MemberStateotherthanthatofitsregisteredofice,itshouldbe posibletoopensecondaryproceedingsinthe MemberStateoftheregistered ofice,providedthatthedebtoriscarryingoutaneconomicactivitywithhuman meansandasetsinthatstate." (9) Thefolowingrecitalsareinserted: "(12a)Beforeopeninginsolvencyproceedings,thecompetentcourtshouldexamineofits ownmotionwhetherthedebtor'scentreofmaininterestsorestablishmentisactualy locatedwithinitsjurisdiction. (12b)Whendeterminingwhetherthecentreofmaininterestisascertainablebythird parties,specialconsiderationshouldbegiventothecreditorsandtheir perceptionastowhereadebtorconductstheadministrationofhisinterests. Thismayrequire,intheeventofashiftofcentreofmaininterest,informing creditorsofthenewlocationfromwhichthedebtoriscarryingouthisactivities induecourse,e.g.bydrawingatentiontothechangeofaddresincommercial correspondence,ormakingthenewlocationpublicthroughotherappropriate means. (12c) ThisRegulationshouldcontainanumberofsafeguardsaimedatpreventing fraudulentorabusiveforumshopping. (12d)Accordingly,thepresumptionsthattheregisteredofice,theprincipalplaceof businesandthehabitualresidencearethecentreofmaininterestshouldbe rebutable,andthecourtshouldcarefulyaseswhetherthedebtor'scentreof maininterestisgenuinelylocatedinthat MemberState /14 AVI/abs 16

17 Inthecaseofacompany,itshouldbeposibletorebutthispresumptionifthe company'scentraladministrationislocatedinanother MemberStatethanits registeredoficeandacomprehensiveasesmentofaltherelevantfactors establishes,inamannerthatisascertainablebythirdparties,thatthe company sactualcentreofmanagementandsupervisionandofthe managementofitsinterestsislocatedinthatother MemberState. Inthecaseofanindividualnotexercisinganindependentbusinesor profesionalactivity,itshouldbeposibletorebutthispresumptionfor exampleifthemajorpartofthedebtor'sasetsislocatedoutsidethe Member Stateofthedebtor'shabitualresidence,orifitcanbeestablishedthatthe principalreasonformovingwastofileforinsolvencyproceedingsinthenew jurisdictionandifsuchfilingwouldmaterialyimpairtheinterestsofcreditors whosedealingswiththedebtortookplacepriortotherelocation. (12e) Withthesameobjectiveofpreventingfraudulentorabusiveforumshopping, thepresumptionthatthecentreofmaininterestofanindividualnotexercising anindependentbusinesorprofesionalactivityisattheplaceofhishabitual residenceshouldnotapplywherethedebtorhasrelocatedhishabitual residencetoanother MemberStatewithinaperiodofsixmonthspriortothe requestforopeninginsolvencyproceedings. (12f) Inalinstances,wherethecircumstancesofthecasegiverisetodoubtsabout thecourt'sjurisdiction,thecourtshouldrequirethedebtortosubmitadditional evidencetosupporthisasertionsand,wherethelawapplicabletothe insolvencyproceedingssoalows,givethedebtor'screditorstheopportunityto presenttheirviewsonthequestionofjurisdiction /14 AVI/abs 17

18 (12g) Whenthecourtseisedoftherequesttoopeninsolvencyproceedingsfindsthat thecentreofmaininterestisnotlocatedonitsterritory,itshouldnotopenmain insolvencyproceedings. (12h)Inaddition,anycreditorofthedebtorshouldhaveanefectiveremedyagainst thedecisionopeninginsolvencyproceedings. Theconsequencesofachalenge ofthedecisionopeninginsolvencyproceedingsshouldbegovernedbynational law." (10) Recital13isdeleted. (11) Thefolowingrecital13a( )isinserted: "(13a)Thecourtsofthe MemberStateopeninginsolvencyproceedingsshouldalsohave jurisdictionforactionswhichderivedirectlyfromtheinsolvencyproceedingsand arecloselylinkedwiththem.suchactionsincludeavoidanceactions 10 against defendantsinother MemberStatesandactionsconcerningobligationsthat ariseinthecourseoftheinsolvencyproceedings,suchasadvancepaymentfor costsoftheproceedings.incontrast,actionsfortheperformanceofthe obligationsunderacontractconcludedbythedebtorpriortotheopeningof proceedingsdonotderivedirectlyfromtheproceedings.wheresuchanactionis relatedwithanotheractionbasedongeneralcivilandcommerciallaw,the insolvencypractitionershouldbeabletobringbothactionsinthecourtsofthe defendant'sdomicileifheconsidersitmoreeficienttobringtheactioninthat forum.thiscould,forexample,bethecaseiftheinsolvencypractitionerwishesto combineanactionfordirector'sliabilityonthebasisofinsolvencylawwithan actionbasedoncompanylaworgeneraltortlaw." 10 "Avoidanceactions"shouldbetranslatedintoFrenchas"actionennulitédelapériode suspecte" /14 AVI/abs 18

19 (11a) Recital17isreplacedbythefolowing: "(17) Priortotheopeningofthemaininsolvencyproceedings,therighttorequestthe openingofinsolvencyproceedingsinthe MemberStatewherethedebtorhasan establishmentshouldbelimitedtolocalcreditorsandpublicauthoritiesorto caseswheremainproceedingscannotbeopenedunderthelawofthe Member Statewherethedebtorhasthecentreofhismaininterest.Thereasonforthis restrictionisthatcaseswhereterritorialinsolvencyproceedingsarerequested beforethemaininsolvencyproceedingsareintendedtobelimitedtowhatis absolutelynecesary." (11b)Thefolowingrecitalisinserted: "(18a)ThisRegulationshouldprovideforrulestolocalisethedebtor'sasets,and theserulesshouldapplywhendeterminingwhichasetsbelongtothemainor secondaryproceedings,ortosituationsinvolvingthirdparties'rightsinrem.in particular,thisregulationshouldspecifythateuropeanpatentswithunitary efect,acommunitytrademarkoranyothersimilarrights,suchasthe CommunityplantvarietyrightsorCommunitydesigns,shouldonlybeincluded inthemainproceedings." 13276/14 AVI/abs 19

20 (12) Thefolowingrecitalsareinserted: "(19a)Secondaryproceedingsmayalsohampertheeficientadministrationoftheestate. Therefore,thisRegulationsetsouttwospecificsituationsinwhichthecourt seizedwitharequesttoopensecondaryproceedingsshouldbeable,onrequest oftheinsolvencypractitionerinmainproceedings,topostponeorrefusethe openingofsuchproceedings.first,thisregulationconfersontheinsolvency practitionerinmainproceedingstheposibilitytogiveanundertakingtolocal creditorsthattheywilbetreatedasifsecondaryproceedingshadbeenopened. ThisundertakinghastofulfilanumberofconditionssetoutintheRegulation, inparticular,ithastobeapprovedbyaqualifiedmajorityoflocalcreditors. Wheresuchanundertakinghasbeengiven,thecourtseizedwitharequestto opensecondaryproceedingsshouldbeabletorefusetheopeningwhenitis satisfiedthatthisundertakingadequatelyprotectsthegeneralinterestsoflocal creditors. Whenasesingtheseinterests,thecourtshouldtakeintoaccountthe factthattheundertakinghasbeenapprovedbyaqualifiedmajorityoflocal creditors. (19b)Forthepurposeofthatundertaking,theasetsandrightslocatedinthe MemberStatewherethedebtorhasanestablishmentshouldformasubcategoryoftheinsolvencyestate,and,whendistributingthemortheproceeds resultingfromtheirrealisation,theinsolvencypractitionerinthemain proceedingsshouldrespectthepriorityrightsthatlocalcreditorswouldhave hadifsecondaryproceedingshadbeenopenedinthat MemberState. (19c) Nationallawshouldapply,asappropriate,fortheapprovaloftheundertaking. Inparticular,whereundernationallawthevotingrulesforadoptinga restructuringplanrequiresthepriorapprovalofcreditors'claims,theseclaims shouldbedeemedtobeapprovedforthepurposeofvotingontheundertaking. Wheretherearediferentproceduresfortheadoptionofrestructuringplans undernationallaw, MemberStatesshoulddesignatethespecificprocedure whichshouldberelevantinthiscontext /14 AVI/abs 20

21 (19d)Inaddition,thisRegulationshouldprovidefortheposibilitythatthecourt temporarilystaystheopeningofsecondaryproceedings,whenatemporary moratoriumofindividualenforcementproceedingshasbeengrantedinthe mainproceedings,inordertopreservetheeficiencyofsuchmoratorium.the courtshouldbeabletograntthetemporarystayifitissatisfiedthatsuitable measuresareinplacetoprotecttheinterestoflocalcreditors.inthatcase,al creditorsthatcouldbeafectedbytheoutcomeofthenegotiationsona restructuringplanshouldbeinformedofthenegotiationsandbealowedto participateinthem. Inordertoensureanefectiveprotectionoflocalinterests,theinsolvency practitionerofthemainproceedingsshouldnotbeabletorealiseorre-locatethe asetssituatedinthe MemberStatewhereanestablishmentislocatedinanabusive manner,inparticular,withthepurposeoffrustratingtheposibilitythatsuch interestsbeefectivelysatisfiedifafterwardssecondaryproceedingswereopened. (19e) NothinginthisRegulationshouldpreventthecourtsofthe MemberStatein whichsecondaryproceedingshavebeenopenedfromsanctioningthedebtor's directorsforanyviolationoftheirduties,providedthatthosecourtshave jurisdictiontoaddressuchdisputesundertheirnationallaw." 13276/14 AVI/abs 21

22 (13) Recital20isreplacedbythefolowing: "(20) Maininsolvencyproceedingsandsecondaryproceedingscan( )contributetothe eficientadministrationofthedebtor'sestateortotheefectiverealisationofthe totalasetsifthereispropercooperationbetweentheactorsinvolvedinalthe concurentproceedings( ).Themainconditionhereisthatthevariousinsolvency practitionersandthecourtsinvolvedmustcooperateclosely,inparticularby exchangingasuficientamountofinformation.inordertoensurethedominantrole ofthemainproceedings,theinsolvencypractitionerinsuchproceedingsshouldbe givenseveralposibilitiesforinterveninginsecondaryinsolvencyproceedingswhich arependingatthesametime.inparticular,theinsolvencypractitionershouldbe abletoproposearestructuringplanorcompositionorapplyforasuspensionofthe realisationoftheasetsinthesecondaryinsolvencyproceedings.intheir cooperation,insolvencypractitionersandcourtsshouldtakeintoaccountbest practicesforcooperationincros-borderinsolvencycasesassetoutinprinciplesand guidelinesoncommunicationandcooperationadoptedbyeuropeanandinternational ( )organisationsactiveintheareaofinsolvencylaw,andinparticularrelevant guidelinespreparedbyuncitral. (20a)Inviewofsuchcooperation,insolvencypractitionersandcourtsmayenterinto agreementsandprotocolsforthepurposeoffacilitatingcros-border cooperationofmultipleinsolvencyproceedingsindiferent MemberStates concerningthesamedebtorormembersofthesamegroupofcompanies,where thisiscompatiblewiththerulesapplicabletoeachoftheproceedings.such agreementsandprotocolsmayvaryinform(writenororal)andscope(ranging fromgenerictospecific)andmaybeenteredintobydiferentparties.simple genericagreementsmayemphasisetheneedforclosecooperationbetweenthe parties,withoutaddresingspecificisues,whilemoredetailed,specific agreementsestablishaframeworkofprinciplestogovernmultipleinsolvency proceedingsandmaybeapprovedbythecourtsinvolved,wherethenational lawsorequires.theymayreflectagreementbetweenthepartiestotake,or refrainfromtaking,certainstepsoractions /14 AVI/abs 22

23 (20b)Similarly,thecourtsofdiferent MemberStatesmaycooperatebycoordinating theappointmentofinsolvencypractitioners.inthatcontext,theymayappointa singleinsolvencypractitionerforseveralinsolvencyproceedingsconcerningthe samedebtororfordiferentmembersofagroupofcompanies,providedthat thisiscompatiblewiththerulesapplicabletoeachoftheproceedings,in particularwiththerequirementsconcerningqualificationandlicensingofthe insolvencypractitioner,ifany." (14) Thefolowingrecitals( )areinserted: "(20c)ThisRegulationshouldensuretheeficientadministrationofinsolvencyproceedings relatingtodiferentcompaniesformingpartofagroupofcompanies. (20d)Whereinsolvencyproceedingshavebeenopenedforseveralcompaniesofthesame group,thereshouldbepropercooperationbetweentheactorsinvolvedinthese proceedings( ).Thevariousinsolvencypractitionersandthecourtsinvolved shouldthereforebeunder( )asimilarobligationtocooperateandcommunicate witheachotherasthoseinvolvedinmainandsecondaryproceedingsrelatingtothe samedebtor.cooperationbetweentheinsolvencypractitionersshouldnevergo againsttheinterestsofthecreditorsineachoftheproceedingsandsuch cooperationshouldbeaimedatfindingasolutionthatwouldleveragesynergies acrosthegroup.( ) (20e) Theintroductionofrulesontheinsolvencyofgroupsofcompaniesshouldnotlimit theposibilityofacourttoopeninsolvencyproceedingsforseveralcompanies belongingtothesamegroupinasinglejurisdictionifthecourtfindsthatthecentre ofmaininterestsofthesecompaniesislocatedinasingle MemberState.Insuch situations,thecourtshouldalsobeabletoappoint,ifappropriate,thesame insolvencypractitionerinalproceedingsconcerned,providedthatthisisnot incompatiblewiththerulesapplicabletothem /14 AVI/abs 23

24 (20f) Withaviewtofurtherimprovingthecoordinationoftheinsolvencyofmembers ofagroupofcompanies,andtoalowforcoordinatedrestructuringofthe group,thisregulationshouldintroduceproceduralrulesonthecoordinationof theinsolvencyofmembersofagroupofcompanies. Thiscoordinationshould strivetoensuretheeficiencyofthecoordination,whilstatthesametime respectingeachgroupmember'sseparatelegalpersonality. (20g) Aninsolvencypractitionerappointedininsolvencyproceedingsopenedin relationtoamemberofthegroupshouldbeabletorequesttheopeningof groupcoordinationproceedings. However,wherethelawapplicabletothe insolvencysorequires,thisinsolvencypractitionershouldobtainthenecesary authorisationbeforemakingsucharequest.therequestshouldspecifyesential elementsofthecoordination,inparticularanoutlineofthecoordinationplan,a proposalwhoshouldbeappointedascoordinatorandanoutlineofthe estimatedcostsofthecoordination. (20h)Inordertoensurethevoluntarynatureofgroupcoordinationproceedingsthe insolvencypractitionersinvolvedshouldbeabletoobjecttotheirparticipation intheproceedingswithinaspecifiedtimeperiod. Inordertoalowtheinsolvencypractitionersinvolvedtotakeaninformed decisionontheparticipationinthecoordinationproceedings,theinsolvency practitionersinvolvedshouldbeinformedatanearlystageoftheesential elementsofthecoordination.however,aninsolvencypractitionerwhoinitialy objectedtotheinclusioninthecoordinationproceedingsshouldbeableto subsequentlyrequesttoparticipateinthem.insuchacase,thecoordinator shouldtakeadecisionontheadmisibilityofsucharequest. Alinsolvency practitioners,includingtherequestinginsolvencypractitioner,shouldbe informedofthecoordinator'sdecisionandshouldhavetheposibilitytocontest thatdecisionbeforethecourtwhichhasopenedthecoordinationproceedings /14 AVI/abs 24

25 (20i) Groupcoordinationproceedingsshouldalwaysstrivetofacilitatetheefective administrationoftheinsolvencyproceedingsofthegroupmembers,andhavea generalypositiveimpactonthecreditors.thisregulationshouldtherefore ensurethatthecourtwithwhicharequestforgroupcoordinationproceedings hasbeenfiledmakesanasesmentofthesecriteriapriortoopeninggroup coordinationproceedings. (20j) Inthesameline,theadvantagesofgroupcoordinationproceedingsshould neverbeoutweighedbythecostsoftheseproceedings. Therefore,itisnecesary toensurethatthecostsofthecoordination,andthesharethateachgroup memberwilbearareadequate,proportionalandreasonable,tobedetermined inaccordancewiththenationallawofthe MemberStatewheregroup coordinationproceedingshavebeenopened.theinsolvencypractitioners involvedshouldalsohavetheposibilityofcontrolingthesecostsfromtheearly stageoftheproceedings.wherethenationallawsorequires,thismayinvolve theinsolvencypractitionerseekingtheapprovalofacourtorcreditors commitee. Wherethecoordinatorestimatesthatthefulfilmentofhistasksrequiresa significantincreaseinthecostscomparedtotheinitialyestimatedcostsand,in anycase,wherethecostsexceed10%oftheestimatedcosts,thecoordinator shouldbeauthorisedbythecourtwhichhasopenedthecoordination proceedingstoexceedsuchcosts.beforetakingitsdecision,thecourtwhichhas openedthecoordinationproceedingsshouldgivetheposibilitytothe participatinginsolvencypractitionerstobeheardbeforeitinorderto communicatetheirobservationsontheopportunityofthecoordinator'srequest /14 AVI/abs 25

26 (20k) Formembersofagroupofcompanieswhicharenotparticipatingingroup coordinationproceedings,thisregulationshouldalsoprovideforanalternative mechanismtoachieveacoordinatedrestructuringofthegroup.aninsolvency practitionerappointedinproceedingsrelatingtoamemberofagroupofcompanies shouldhavestandingtorequestastayofanymeasurerelatedtotherealisationof theasetsintheproceedingsopenedwithrespecttoothermembersofthegroup whicharenotsubjecttogroupcoordinationproceedings( ).Suchastaymay onlyberequestedifarestructuringplanispresentedforthemembersofthe groupconcerned,thatthisplanwouldbetothebenefitofthecreditorsinthe proceedingsinrespectofwhichthestayisrequestedandthatthestayis necesarytoensurethattheplancanbeproperlyimplemented. (20l) NothinginthisRegulationshouldprevent MemberStatesfromestablishing nationalruleswhichwouldsupplementtherulesoncoordinationofthe insolvencyofmembersofgroupsofcompaniessetoutinthisregulation, providedthatthescopeofapplicationofthosenationalrulesislimitedtothe domesticareaandthattheirapplicationwouldnotimpairtheeficiencyofthe rulesofthisregulation. (20m)Therulesoncooperation,communicationandcoordinationintheframeworkof theinsolvencyofmembersofagroupofcompaniesprovidedforinthis Regulationshouldonlyapplytotheextentthatproceedingsrelatingtodiferent membersofthesamegroupofcompanieshavebeenopenedinmorethanone MemberState." 13276/14 AVI/abs 26

27 (14a)Recital21isreplacedbythefolowing: (21)"Everycreditor,whohashishabitualresidence,domicileorregisteredoficein theunion,shouldhavetherighttolodgehisclaimsineachoftheinsolvency proceedingspendingintheunionrelatingtothedebtor'sasets.thisshould alsoapplytotaxauthoritiesandsocialinsuranceinstitutions.nothinginthis Regulationshouldpreventtheinsolvencypractitionerfromlodgingclaimson behalfofcertaingroupsofcreditors,forexampleemployees,wherethenational lawsoprovides.however,inordertoensureequaltreatmentofcreditors,the distributionofproceedsmustbecoordinated.everycreditorshouldbeableto keepwhathehasreceivedinthecourseofinsolvencyproceedingsbutshouldbe entitledonlytoparticipateinthedistributionoftotalasetsinotherproceedings ifcreditorswiththesamestandinghaveobtainedthesameproportionoftheir claims." (15) AnewRecital21aisinserted: "(21a)Itisesentialthatcreditorswhohavetheirhabitualresidence,domicileorregistered oficeintheunionbeinformedabouttheopeningofinsolvencyproceedingsrelating totheirdebtor'sasets.inordertoensureaswifttransmisionofinformationto creditors,regulation1393/2007oftheeuropeanparliamentandofthecouncilof13 November2007ontheontheserviceinthe MemberStatesofjudicialand extrajudicialdocumentsincivilandcommercialmaters 11 shouldnotapplywhere thisregulationreferstotheobligationtoinformcreditors.theuseofstandardforms availableinaloficiallanguagesoftheunionshouldfacilitatethetaskofcreditors whenlodgingclaimsinproceedingsopenedinanother MemberState.The consequencesoftheincompletefilingofthestandardformsarelefttonational law." 11 OJL324, ,p /14 AVI/abs 27

28 (15a)Anewrecital25aisinserted: (25a) ThisRegulationmakesseveralprovisionsforacourttoorderastayofopening proceedingsorastayofenforcementproceedings. Anysuchstayshouldnot afecttherightsinremofcreditorsorthirdparties. (15b)Recital28isreplacedbythefolowing: "(28)Inordertoprotectemployeesandjobs,theefectsofinsolvencyproceedingson thecontinuationorterminationofemploymentandontherightsandobligationsof alpartiestosuchemploymentmustbedeterminedbythelawapplicabletothe agreementinaccordancewiththegeneralrulesonconflictoflaw.moreover,in caseswheretheterminationofemploymentcontractsrequirestheapprovalbya courtoradministrativeauthority,the MemberStateinwhichanestablishment ofthedebtorislocatedshouldretainjurisdictiontograntsuchapprovalevenif noinsolvencyproceedingshavebeenopenedinthat MemberState. Anyotherinsolvency-lawquestions,suchaswhethertheemployees'claimsare protectedbypreferentialrightsandwhatstatussuchpreferentialrightsmayhave, shouldbedeterminedbythelawofthe( )MemberState inwhichinsolvency proceedings(mainorsecondary)havebeenopenedexceptincaseswherean undertakingtoavoidsecondaryproceedingshasbeengiveninaccordancewith theprovisionsofthisregulation." 13276/14 AVI/abs 28

29 (15b)AnewRecital28aisinserted: "(28a)Thelawapplicabletotheefectsofinsolvencyproceedingsonapendinglawsuit orpendingarbitralproceedingconcerninganasetorrightwhichformspartof thedebtor'sestateshouldbethelawofthe MemberStatewherethatlawsuitis pendingorwherethearbitrationhasitsseat. Thisprovisionshould,however, notafectnationalrulesonrecognitionandenforcementofarbitralawards." (15c) AnewRecital28bisinserted: "(28b)Thenecesaryflexibilityshouldbeprovidedregardingcertainrulesofthis Regulation,inordertotakeaccountofthespecificproceduralrulesofcourt systemsincertain MemberStates.Accordingly,referencesinthisRegulationto noticebeinggivenbyajudicialbodyofa MemberStateinclude,wherea MemberState'sproceduralrulessorequire,anorderbythatjudicialbody directingnoticetobegiven.' (16) Recital29isreplacedbythefolowing: "(29) Forbusinesconsiderations,themaincontentofthedecisionopeningthe proceedingsshouldbepublishedinanother MemberStateattherequestofthe insolvencypractitioner.ifthereisanestablishmentinthe MemberStateconcerned, suchpublicationshouldbemandatory( ).Inneithercase,however,should publicationbeapriorconditionforrecognitionoftheforeignproceedings." 13276/14 AVI/abs 29

30 (17) Thefolowingrecitalsareinserted: "(29a)Inordertoimprovetheinformationofcreditorsandcourtsinvolvedandtoprevent theopeningofparalelinsolvencyproceedings, MemberStatesshouldberequiredto publishrelevantinformationincros-borderinsolvencycasesinapubliclyaccesible electronicregister.inordertofacilitateaccestothatinformationforcreditorsand courtsdomiciledorlocatedinother MemberStates,thisRegulationshouldprovide fortheinterconnectionofinsolvencyregistersviathee-justiceportal.member Statesshouldbefreetopublishrelevantinformationinseveralregistersandit shouldbeposibletointerconnectmorethanoneregisterper MemberState. (29b)ThisRegulationshoulddeterminetheminimumamountofinformationtobe publishedintheregisters. MemberStatesshouldnotbeprecludedfrom includingadditionalinformation. Whenthedebtorisanindividual,heshould onlyhavetoindicatearegistrationnumberifheisexercisinganindependentor businesactivity.theregistrationnumbershouldbeunderstoodasthe registrationnumberofhisbusinesorprofesionalactivityinthetraderegister, ifany. (29c) Informationoncertainaspectsoftheproceedingsisesentialforcreditors,such astimelimitsforlodgingclaimsorforchalengingdecisions.thisregulation should,however,notimposeon MemberStatestocalculatethesetimelimitson anindividualbasis. MemberStatesshouldbealowedtofulfiltheirobligations byaddinghyperlinkstothee-justiceportalwhereself-explanatoryinformation wilbegivenonthecriteriaforcalculatingthosetime-limits /14 AVI/abs 30

31 (29d)Inordertograntsuficientprotectiontotheinformationrelatingtoindividuals notexercisinganindependentbusinesorprofesionalactivity, MemberStates shouldbeabletomakeaccestothatinformationsubjecttosupplementary searchcriteriasuchasthedebtor'spersonalidentificationnumber,hisaddres, hisdateofbirthorthedistrictofthecompetentcourtortomakeacces conditionaluponarequesttoacompetentauthorityorupontheverificationof alegitimateinterest. MemberStates shouldalsobealowednottoincludeinformationonindividuals notexercisinganindependentbusinesorprofesionalactivityintheir insolvencyregisters.insuchacase, MemberStatesshouldensurethatthe relevantinformationisgiventothecreditorsbyindividualnoticeandthat claimsofcreditorswhohavenotreceivedtheinformationarenotafectedby theproceedings." (18) ( )Recital31isdeleted. (19) ThefolowingRecitals31a,31band31careinserted: "(31a)InordertoensureuniformconditionsfortheimplementationofRegulation(EC)No 1346/2000,implementingpowersshouldbeconferedontheCommision.Those powersshouldbeexercisedinaccordancewithregulation(eu)no182/2011ofthe EuropeanParliamentandoftheCouncilof16February2011layingdowntherules andgeneralprinciplesconcerningmechanismsforcontrolbythe MemberStatesof thecommision'sexerciseofimplementingpowers 12. (31b) ThisRegulationrespectsthefundamentalrightsandobservestheprinciples recognisedinthecharteroffundamentalrightsoftheeuropeanunion.in particular,thisregulationseekstopromotetheapplicationofarticles8,17and47 concerning,respectively,theprotectionofpersonaldata,therighttopropertyandthe righttoanefectiveremedyandtoafairtrial. 12 OJL55, ,p /14 AVI/abs 31

32 (31c) Directive95/46/ECoftheEuropeanParliamentandoftheCouncilof24October 1995ontheprotectionofindividualswithregardtotheprocesingofpersonaldata andonthefreemovementofsuchdata 13 andregulation45/2001/ecofthe EuropeanParliamentandoftheCouncilof18December2000ontheprotectionof individualswithregardtotheprocesingofpersonaldatabythecommunity institutionsandbodiesandonthefreemovementofsuchdata 14 applytothe procesingofpersonaldatawithintheframeworkofthisregulation,asmodified." (19a) Thefolowingrecitalsareinserted: "(31d)ThisRegulationiswithoutprejudicetoRegulation(EEC,Euratom)No1182/71 ofthecouncilof3june1971determiningtherulesapplicabletoperiods,dates andtimelimits." (20) Inrecitals32and33,thewords"TreatyestablishingtheEuropeanCommunity"arereplaced by"treatyonthefunctioningoftheeuropeanunion". (21) Articles1and2arereplacedbythefolowing OJL281, ,p.31. OJL8, ,p /14 AVI/abs 32

33 ANNEXI 1 "ANNEXA InsolvencyproceedingsreferedtoinArticle2(a) BELGIQUE/BELGIË Hetfailisement/Lafailite, Degerechtelijkereorganisatiedooreencolectiefakkoord/Laréorganisationjudiciairepar accordcolectif, Degerechtelijkereorganisatiedooreenminnelijkakkoord/Laréorganisation judiciaireparaccordamiable, Degerechtelijkereorganisatiedooroverdrachtondergerechtelijkgezag/Laréorganisation judiciairepartransfertsousautoritédejustice, Decolectieveschuldenregeling/Lerèglementcolectifdedetes, Devrijwiligeverefening/Laliquidationvolontaire, Degerechtelijkeverefening/Laliquidationjudiciaire, Devoorlopigeontnemingvanbeheer,bepaaldinartikel8vandefailisementswet/Le desaisisementprovisoire,viséàl'article8delaloisurlesfailites, БЪЛГАРИЯ Производствопонесъстоятелност, 1 IncomparisonwiththeexistingtextofAnnexesAandC,aldeletionsaremarkedby( ) andnewinsertedtextisinbold(seeseecouncilimplementingregulation(eu)no 663/2014of5June2014replacingAnnexesA,BandCtoRegulation(EC)No1346/2000on insolvencyproceedings) /14 AVI/abs 33

34 ČESKÁREPUBLIKA Konkurs, Reorganizace, Oddlužení, DEUTSCHLAND DasKonkursverfahren, DasgerichtlicheVergleichsverfahren, DasGesamtvolstreckungsverfahren, DasInsolvenzverfahren, EESTI Pankrotimenetlus, Võlgadeümberkujundamisemenetlus, 13276/14 AVI/abs 34

35 ÉIRE/IRELAND Compulsorywinding-upbythecourt, Bankruptcy, Theadministrationinbankruptcyoftheestateofpersonsdyinginsolvent, Winding-upinbankruptcyofpartnerships, Creditors'voluntarywinding-up(withconfirmationofacourt), Arangementsunderthecontrolofthecourtwhichinvolvethevestingofalorpartofthe propertyofthedebtorintheoficialasigneeforrealisationanddistribution, Companyexaminership, DebtReliefNotice, DebtSetlementArangement, PersonalInsolvencyArangement, ΕΛΛΑΔΑ Ηπτώχευση, Ηειδικήεκκαθάρισηενλειτουργία, Σχέδιοαναδιοργάνωσης, Απλοποιημένηδιαδικασίαεπίπτωχεύσεωνμικρούαντικειμένου, ΔιαδικασίαΕξυγίανσης, 13276/14 AVI/abs 35

36 ESPAÑA Concurso, Procedimientodehomologacióndeacuerdosderefinanciación, Procedimientodeacuerdosextrajudicialesdepago, Procedimientodenegociaciónpúblicaparalaconsecucióndeacuerdosde refinanciacióncolectivos,acuerdosderefinanciaciónhomologadosypropuestas anticipadasdeconvenio, FRANCE Sauvegarde, Sauvegardeaccélérée, Sauvegardefinancièreaccélérée, Redresementjudiciaire, Liquidationjudiciaire, HRVATSKA Stečajnipostupak, 13276/14 AVI/abs 36

37 ITALIA Falimento, Concordatopreventivo, Liquidazionecoataamministrativa, Amministrazionestraordinaria, Accordidiristruturazione, Proceduredicomposizionedelacrisidasovraindebitamentodelconsumatore (accordoopiano), Liquidazionedeibeni, ΚΥΠΡΟΣ ΥποχρεωτικήεκκαθάρισηαπότοΔικαστήριο, Εκούσιαεκκαθάρισηαπόμέλη, Εκούσιαεκκαθάρισηαπόπιστωτές ΕκκαθάρισημετηνεποπτείατουΔικαστηρίου, ΔιάταγμαΠαραλαβήςκαιπτώχευσηςκατόπινΔικαστικούΔιατάγματος, Διαχείρισητηςπεριουσίαςπροσώπωνπουαπεβίωσαναφερέγγυα, 13276/14 AVI/abs 37

38 LATVIJA Tiesiskāsaizsardzībasproces, Juridiskāspersonasmaksātnespējasproces, Fiziskāspersonasmaksātnespējasproces, LIETUVA Įmonėsrestruktūrizavimobyla, Įmonėsbankrotobyla, Įmonėsbankrotoprocesasneteismotvarka, Fizinioasmensbankrotobyla, LUXEMBOURG Failite, Gestioncontrôlée, Concordatpréventifdefailite(parabandond'actif), Régimespécialdeliquidationdunotariat, Procédurederèglementcolectifdesdetesdanslecadredusurendetement, 13276/14 AVI/abs 38

39 MAGYARORSZÁG Csődeljárás, Felszámolásieljárás, MALTA Xoljiment, Amministrazzjoni, Stralċvolontarjumil-membrijewmil-kredituri, Stralċmil-Qorti, Falimentf'każta'kummerċjant, Proċedurabiexkumpanijatirkupra, NEDERLAND Hetfailisement, Desurséancevanbetaling, Deschuldsaneringsregelingnatuurlijkepersonen, 13276/14 AVI/abs 39

40 ÖSTERREICH DasKonkursverfahren(Insolvenzverfahren), DasSanierungsverfahrenohneEigenverwaltung(Insolvenzverfahren), DasSanierungsverfahrenmitEigenverwaltung(Insolvenzverfahren), DasSchuldenregulierungsverfahren, DasAbschöpfungsverfahren, DasAusgleichsverfahren, POLSKA Postępowanienaprawcze, Upadłośćobejmującalikwidację, Upadłośćzmożliwościązawarciaukładu, PORTUGAL Procesodeinsolvência, Procesoespecialderevitalização, 13276/14 AVI/abs 40

41 ROMÂNIA Procedurainsolvenței, Reorganizareajudiciară, Procedurafalimentului, Concordatulpreventiv, SLOVENIJA Postopekpreventivnegaprestrukturiranja, Postopekprisilneporavnave, Postopekpoenostavljeneprisilneporavnave, Stečajnipostopek:stečajnipostopeknadpravnoosebo,postopekosebnegastečajaand postopekstečajazapuščine, SLOVENSKO Konkurznékonanie, Reštrukturalizačnékonanie, 13276/14 AVI/abs 41

42 SUOMI/FINLAND Konkursi/konkurs, Yritysaneeraus/företagsanering, Yksityishenkilönvelkajärjestely/skuldsaneringförprivatpersoner, SVERIGE Konkurs, Företagsrekonstruktion, Skuldsanering, UNITEDKINGDOM Winding-upbyorsubjecttothesupervisionofthecourt, Creditors'voluntarywinding-up(withconfirmationbythecourt), Administration,includingappointmentsmadebyfilingprescribeddocumentswith thecourt, Voluntaryarangementsunderinsolvencylegislation, Bankruptcyorsequestration." 13276/14 AVI/abs 42

43 "ANNEXC LiquidatorsreferedtoinArticle2(b) BELGIQUE/BELGIË Decurator/Lecurateur, Degedelegeerdrechter/Lejuge-délégué, Degerechtsmandataris/Lemandatairedejustice, Deschuldbemiddelaar/Lemédiateurdedetes, Deverefenaar/Leliquidateur, Devoorlopigebewindvoerder/L'administrateurprovisoire, БЪЛГАРИЯ Назначенпредварителновремененсиндик, Времененсиндик, (Постоянен)синдик, Служебенсиндик, 13276/14 AVI/abs 43

44 ČESKÁREPUBLIKA Insolvenčnísprávce, Předběžnýinsolvenčnísprávce, Oddělenýinsolvenčnísprávce, Zvláštníinsolvenčnísprávce, Zástupceinsolvenčníhosprávce, DEUTSCHLAND Konkursverwalter, Vergleichsverwalter, Sachwalter(nachderVergleichsordnung), Verwalter, Insolvenzverwalter, Sachwalter(nachderInsolvenzordnung), Treuhänder, VorläufigerInsolvenzverwalter, VorläufigerSachwalter, 13276/14 AVI/abs 44

45 EESTI Pankrotihaldur, Ajutinepankrotihaldur, Usaldusisik, ÉIRE/IRELAND Liquidator, OficialAsignee, Trusteeinbankruptcy, ProvisionalLiquidator, Examiner, PersonalInsolvencyPractitioner, InsolvencyService, ΕΛΛΑΔΑ Οσύνδικος, Οεισηγητής, Ηεπιτροπήτωνπιστωτών, Οειδικόςεκκαθαριστής, 13276/14 AVI/abs 45

46 ESPAÑA Administradorconcursal, Mediadorconcursal, FRANCE Mandatairejudiciaire, Liquidateur, Administrateurjudiciaire, Commisaireàl'exécutionduplan, HRVATSKA Stečajniupravitelj, Privremenistečajniupravitelj, Stečajnipovjerenik, Povjerenik, 13276/14 AVI/abs 46