EC Regulation on insolvency proceedings (Insolvency Regulation)

Also known by its official title, Council Regulation (EC) 1346/2000 on insolvency proceedings. The EC Regulation on insolvency proceedings (Insolvency Regulation) was adopted by the Council of the European Union (www.practicallaw.com/5-107-7562) on 29 May 2000, and came into force on 31 May 2002. It is directly applicable (meaning it has automatic legal effect and prevails over domestic legislation) in all member states in the European Union (www.practicallaw.com/6-107-6562) (EU), excluding Denmark.

The Insolvency Regulation aims to introduce certain conflicts of law rules for insolvency proceedings concerning debtors based in the EU that have operations in more than one member state. Its central premise is that the member state in which a debtor has its centre of main interests (in other words, the member state with which the debtor is most closely connected) should be the place in which insolvency proceedings over a debtor are commenced; insolvency proceedings elsewhere in the EU should be purely local in effect and, in any case, subservient to the main proceedings.

The Insolvency Regulation does not seek to harmonise substantive law or policy between EU member states and has specific rules ensuring certain legal relationships, for example, rights of set-off and contracts relating to immoveable property are not changed by the rules on jurisdiction in the Insolvency Regulation.

On 12 December 2012, the European Commission published a proposal to amend the Insolvency Regulation. For more information, see Practice note, A guide to the European Commission's proposal for a regulation amending the EC Insolvency Regulation (www.practicallaw.com/7-523-3581).

For the official text of the Insolvency Regulation, see Council Regulation (EC) 1346/2000 on insolvency proceedings (OJ 2000 L 160/1) (www.practicallaw.com/1-385-0295).

Since the Insolvency Regulation came into force, the Annexes have been amended by:

  • Council Regulation (EC) No 603/2005 of 12 April 2005 amending the lists of insolvency proceedings, winding-up proceedings and liquidators in Annexes A, B and C to Regulation (EC) No 1346/2000 on insolvency proceedings Document: OJ 2005 L100/1.

  • Council Regulation (EC) No 694/2006 of 27 April 2006 amending the lists of insolvency proceedings, winding-up proceedings and liquidators in Annexes A, B and C to Regulation (EC) No 1346/2000 on insolvency proceedings Document: OJ 2006 L121/1.

  • Council Regulation (EC) No 1791/2006 of 20 November 2006 (among other things, amending the lists of insolvency proceedings, winding-up proceedings and liquidators in Annexes A, B and C to Regulation (EC) No 1346/2000 on insolvency proceedings by reason of the accession of Bulgaria and Romania) Document: OJ 2006 L363/1.

  • Council Regulation (EC) No 681/2007 of 13 June 2007 amending the lists of insolvency proceedings, winding-up proceedings and liquidators in Annexes A, B and C to Regulation (EC) No 1346/2000 on insolvency proceedings Document: OJ 2007 L159/1.

  • Council Regulation (EC) No 788/2008 of 24 July 2008 amending the lists of insolvency proceedings and winding-up proceedings in Annexes A and B to Regulation (EC) No 1346/2000 on insolvency proceedings and codifying Annexes A, B and C to that Regulation Document: OJ 2008 L213/1.

  • Council Regulation (EU) No 210/2010 of 25 February 2010 amending the lists of insolvency proceedings, winding-up proceedings and liquidators in Annexes A, B and C to Regulation (EC) No 1346/2000 on insolvency proceedings and codifying Annexes A, B and C to that Regulation Document: OJ 2010 L65/1.

  • Council Regulation (EU) No 583/2011 of 9 June 2011 amending the lists of insolvency proceedings, winding-up proceedings and liquidators in Annexes A, B and C to Regulation (EC) No 1346/2000 on insolvency proceedings and codifying Annexes A, B and C to that Regulation Document: OJ 2011 L160/52.

  • Council Regulation (EU) No 663/2014 of 5 June 2014 replacing Annexes A, B and C to Regulation (EC) No 1346/2000 on insolvency proceedings: Document: OJ 2014 L179/4.

For the current text of the Annexes, as cumulatively amended, see Council regulation (EU) No 663/2014 of 5 June 2014.

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