Harmonisation of Insolvency and Restructuring Laws in the EU
Georg Wabl contributes a paper (Duties of Directors Where there is a Likelihood of Insolvency – Results of an Empirical Survey of 107 Austrian Insolvency Administrators) to the INSOL Europe Academic Forum Annual Conference Booklet for the 2019 conference in Copenhagen (published by INSOL Europe).
The EU Directive on restructuring and insolvency provides for specific duties of directors where there is a likelihood of insolvency. In the course of the implementation of the Directive, EU member states will have to assess whether the existing national regime complies with the intentions of the EU legislator. This paper first gives some background on the relevant provisions of the Directive and then looks into a possible implementation from the perspective of Austrian law. The considerations are largely based on a recently conducted empirical survey on directors’ duties in the crisis context. The paper summarises a presentation of the author made in the context of the 2019 INSOL Europe Academic Forum Annual Conference in Copenhagen as part of the Inaugural YANIL Conference.