By Yasmine EDDAM
4 April 2025
When a company operating in several European Union countries is placed under insolvency proceedings (safeguard, reorganisation, liquidation, etc.), we have seen that European rules govern the jurisdiction of the courts and the recognition of decisions (for a full explanation of how cross-border insolvency proceedings work in Europe). But a key question remains, essential in particular for understanding the overall legal framework governing the difficulties of companies regulated at European level: once proceedings have been opened in country A, which law will actually determine the fate of your contracts, guarantees and claims, especially if you or the assets concerned are located in country B? Is it the law of country A that applies everywhere, or can the law of country B still play a role? The European Regulation on insolvency proceedings (No. 2015/848) provides nuanced answers, laying down a general principle but...
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