9. PUBLICITY OF INSOLVENCY PROCEEDINGS. INSOLVENCY REGISTERS DR MAREK PORZYCKI European Insolvency Regulation

Publicity of insolvency proceedings – current EIR no EU-wide register for insolvencies right to request the publication of the notice on foreign insolvency proceedings and on the appointment of the liquidator according to national publication procedures (Art. 21(1) EIR) possibility to provide for mandatory publication (Art. 21(2)) right to request & possible mandatory registration in public registers (Art. 22) Significance: good faith according to provisions on efectiveness of legal acts related to the debtor following the opening of proceedings, e.g. payment of a debt to the debtor instead of the liquidator (see Art. 24), disposal of real estate (see Art. 14)

Interconnection of insolvency registers under the draft recast EIR minimum requirements for Member States’ insolvency registers (Art. 24 draft recast EIR): - contents of the mandatory information - exclusion for consumer insolvency proceedings (Art. 24(4)) - minimum technical features to be specified by the Commission in implementing acts (Art. 25(2) draft recast EIR) so that interconnetion is possible  national internet registers should be internet-based and searchable

Interconnection of insolvency registers under the draft recast EIR a decentralised system of interconnected registers to be established by the Commission, with the European e- Justice Portal as central public access point (Art. 25 draft recast EIR): - internet access - searchability access to mandatory information in national insolvency registers free of charge (Art. 27(1) draft recast EIR) further limitations possible in case of access to information on consumer insolvency proceedings (Art. 27(3) and (4) draft recast EIR)

Interconnection of registers - timing a pilot project is already running in a basic version including 6 Member States (DE, AT, CZ, EE, NL, SL): see justice.europa.eu/content_interconnected_insolvency_r egisters_search-246-en.do justice.europa.eu/content_interconnected_insolvency_r egisters_search-246-en.do requirement to establish national insolvency registers – 36 months following entry into force of the draft recast EIR (probably from 2018)(Art. 92 in conjunction with Art. 24(1) draft recast EIR) detailed implemetation by 48 months following entry into force of the draft recast EIR (probably from 2019)(Art. 25(2) draft recast EIR)

Remaining provisions on publicity in draft recast EIR (as compared to current EIR) right to request the publication of the notice on foreign insolvency proceedings and on the appointment of the liquidator according to national publication procedures (Art. 21(1) EIR), possibility to provide for mandatory publication (Art. 21(2) EIR)  mandatory publication in Member States where an establishment is located, right to request publication in other Member States (Art. 28 draft recast EIR) right to request & possible mandatory registration in public registers (Art. 22 EIR)  mandatory registration in Member States where an establishment is located, under certain conditions (Art. 29 draft recast EIR)