The European Law Institute (ELI) has finalized and approved the Instrument on the Rescue of Business in Insolvency Law. ELI is an independent non-profit organization established to initiate, conduct and facilitate research, make recommendations and provide practical guidance in the field of European legal development.
The Instrument, elaborated by Co-Reporters Bob Wessels and Stephan Madaus, includes 115 recommendations on a wide variety of themes affected by the rescue of financially distressed businesses. Bob Wessels, Emeritus professor of international insolvency law at the University of Leiden, also served as a Reporter on ALI’s Principles of the Law, Transnational Insolvency.
To read the ELI Instrument on the Rescue of Business in Insolvency Law as well as the background materials leading to it click here.