What changed, Regulation (EU) 2015/848

− ### art_1
− Article 1
− | (a) | a debtor is totally or partially divested of its assets and an insolvency practitioner is appointed; |
− | (b) | the assets and affairs of a debtor are subject to control or supervision by a court; or |
− | (c) | a temporary stay of individual enforcement proceedings is granted by a court or by operation of law, in order to allow for negotiations between the debtor and its creditors, provided that the proceedings in which the stay is granted provide for suitable measures to protect the general body o…
− | (a) | insurance undertakings; |
− | (b) | credit institutions; |
− | (c) | investment firms and other firms, institutions and undertakings to the extent that they are covered by Directive 2001/24/EC; or |
− | (d) | collective investment undertakings. |
− ### art_2
− Article 2
− | (1) | ‘collective proceedings’ means proceedings which include all or a significant part of a debtor's creditors, provided that, in the latter case, the proceedings do not affect the claims of creditors which are not involved in them; |
− | (2) | ‘collective investment undertakings’ means undertakings for collective investment in transferable securities (UCITS) as defined in Directive 2009/65/EC of the European Parliament and of the Council (13) and alternative investment funds (AIFs) as defined in Directive 2011/61/EU of the Europea…
− | (3) | ‘debtor in possession’ means a debtor in respect of which insolvency proceedings have been opened which do not necessarily involve the appointment of an insolvency practitioner or the complete transfer of the rights and duties to administer the debtor's assets to an insolvency practitioner a…
− | (4) | ‘insolvency proceedings’ means the proceedings listed in Annex A; |
− | (5) | ‘insolvency practitioner’ means any person or body whose function, including on an interim basis, is to:(i)verify and admit claims submitted in insolvency proceedings;(ii)represent the collective interest of the creditors;(iii)administer, either in full or in part, assets of which the debtor…
− | (i) | verify and admit claims submitted in insolvency proceedings; |
− | (ii) | represent the collective interest of the creditors; |
− | (iii) | administer, either in full or in part, assets of which the debtor has been divested; |
− | (iv) | liquidate the assets referred to in point (iii); or |
− | (v) | supervise the administration of the debtor's affairs. |
− | (6) | ‘court’ means:(i)in points (b) and (c) of Article 1(1), Article 4(2), Articles 5 and 6, Article 21(3), point (j) of Article 24(2), Articles 36 and 39, and Articles 61 to 77, the judicial body of a Member State;(ii)in all other articles, the judicial body or any other competent body of a Memb…
− | (i) | in points (b) and (c) of Article 1(1), Article 4(2), Articles 5 and 6, Article 21(3), point (j) of Article 24(2), Articles 36 and 39, and Articles 61 to 77, the judicial body of a Member State; |
− | (ii) | in all other articles, the judicial body or any other competent body of a Member State empowered to open insolvency proceedings, to confirm such opening or to take decisions in the course of such proceedings; |
− | (7) | ‘judgment opening insolvency proceedings’ includes:(i)the decision of any court to open insolvency proceedings or to confirm the opening of such proceedings; and(ii)the decision of a court to appoint an insolvency practitioner; |
− | (i) | the decision of any court to open insolvency proceedings or to confirm the opening of such proceedings; and |
− | (ii) | the decision of a court to appoint an insolvency practitioner; |
− | (8) | ‘the time of the opening of proceedings’ means the time at which the judgment opening insolvency proceedings becomes effective, regardless of whether the judgment is final or not; |
− | (9) | ‘the Member State in which assets are situated’ means, in the case of:(i)registered shares in companies other than those referred to in point (ii), the Member State within the territory of which the company having issued the shares has its registered office;(ii)financial instruments, the tit…
− | (i) | registered shares in companies other than those referred to in point (ii), the Member State within the territory of which the company having issued the shares has its registered office; |
+ ## CHAPTER I / **GENERAL PROVISIONS**
+ ### Article 1 — Scope
+ (a) a debtor is totally or partially divested of its assets and an insolvency practitioner is appointed;
+ (b) the assets and affairs of a debtor are subject to control or supervision by a court; or
+ (c) a temporary stay of individual enforcement proceedings is granted by a court or by operation of law, in order to allow for negotiations between the debtor and its creditors, provided that the proceedings in which the stay is granted provide for suitable measures to protect the general body of cr…
+ (a) insurance undertakings;
+ (b) credit institutions;
+ (c) investment firms and other firms, institutions and undertakings to the extent that they are covered by Directive 2001/24/EC; or
+ (d) collective investment undertakings.
+ ### Article 2 — Definitions
+ (1) ‘collective proceedings’ means proceedings which include all or a significant part of a debtor's creditors, provided that, in the latter case, the proceedings do not affect the claims of creditors which are not involved in them;
+ (2) ‘collective investment undertakings’ means undertakings for collective investment in transferable securities (UCITS) as defined in Directive 2009/65/EC of the European Parliament and of the Council (1) and alternative investment funds (AIFs) as defined in Directive 2011/61/EU of the European Par…
+ (3) ‘debtor in possession’ means a debtor in respect of which insolvency proceedings have been opened which do not necessarily involve the appointment of an insolvency practitioner or the complete transfer of the rights and duties to administer the debtor's assets to an insolvency practitioner and w…
+ (4) ‘insolvency proceedings’ means the proceedings listed in Annex A;
+ (5) ‘insolvency practitioner’ means any person or body whose function, including on an interim basis, is to:
+ (i) verify and admit claims submitted in insolvency proceedings;
+ (ii) represent the collective interest of the creditors;
+ (iii) administer, either in full or in part, assets of which the debtor has been divested;
+ (iv) liquidate the assets referred to in point (iii); or
+ (v) supervise the administration of the debtor's affairs.
+ The persons and bodies referred to in the first subparagraph are listed in Annex B;
+ (6) ‘court’ means:
+ (i) in points (b) and (c) of Article 1(1), Article 4(2), Articles 5 and 6, Article 21(3), point (j) of Article 24(2), Articles 36 and 39, and Articles 61 to 77, the judicial body of a Member State;
+ (ii) in all other articles, the judicial body or any other competent body of a Member State empowered to open insolvency proceedings, to confirm such opening or to take decisions in the course of such proceedings;
+ (7) ‘judgment opening insolvency proceedings’ includes:
+ (i) the decision of any court to open insolvency proceedings or to confirm the opening of such proceedings; and
+ (ii) the decision of a court to appoint an insolvency practitioner;
+ (8) ‘the time of the opening of proceedings’ means the time at which the judgment opening insolvency proceedings becomes effective, regardless of whether the judgment is final or not;
+ (9) ‘the Member State in which assets are situated’ means, in the case of:
+ (i) registered shares in companies other than those referred to in point (ii), the Member State within the territory of which the company having issued the shares has its registered office;