Virtuelle Sekundärinsolvenzverfahren im europäischen Insolvenzrecht

The efforts of the European legislator to establish a “rescue culture” within the European Union also leave its marks on the flagship of European insolvency legislation, namely the EIR. In this context the study goes into the newly implemented possibility to give an undertaking in line with Art. 36 EIR. This provision harks back to an English law practice and provides a legal basis to conduct virtual secondary proceedings in all European member states. The idea behind the instrument is the avoidance of secondary proceedings through a so-called “as-if”-treatment. To this end the insolvency practitioner in the main insolvency proceedings may assure the creditors of treating them just as they would have been treated if they had requested the opening of a secondary insolvency proceeding in the respective member state. The objective of this thesis is to show up a possible way so that the European undertaking may really make a useful contribution to the handling of cross-border insolvencies.