Through the EU Directive on Restructuring and Insolvency of 20 June 2019 (EUR 2019/1023, “Directive“), the European Union has imposed an obligation on its member states to offer a more attractive and flexible restructuring scheme in their respective local law. The initial deadline to do so had been 17 July 2021. Only a handful of countries (most notably Germany and The Netherlands) had implemented the Directive within the initial deadline, whilst the other countries made use of the possibility to ask for a one year extension.
In April 2021, we published an overview of the status of implementation as the initial deadline approached (please see our newsletter here). In the last year, a number of additional countries have proceeded with implementation. This newsletter provides an update in key jurisdictions.
Hector Arroyo is a partner in the Firm's Restructuring & Insolvency Group in Paris.
He is experienced in financial restructuring, insolvency and distressed M&A, including in a multi-jurisdictional context.
Hector focuses on advising international creditors, such as foreign banks, private equity funds and hedge funds and also debtors in complex restructurings. His practice also encompasses acting for institutions investing in distressed situations.
Hector Arroyo is Founder and Honorary President of the Association des Jeunes Professionnels du Restructuring (AJR), and a member of the Association pour le Retournement des Entreprises (ARE). He was previously a partner at Bremond & Associés, where he practiced for 10 years.
Karol Czepukojć co-heads the Restructuring & Insolvency practice group in Warsaw and also serves as a member of the Mergers & Acquisitions, Dispute Resolution and Arbitration practice groups. He holds an Attorney-at-law's qualification and Restructuring adviser's license.
Karol joined Baker McKenzie in August 2020. Before joining the Firm, he was associated with a renowned domestic law firm, Wardyński & Partners, for 13 years.
Karol speaks at conferences, trainings and webinars on international and local court restructuring and insolvency matters. He has authored or co-authored a number of publications related to his field. He is also a member of well-known international and local associations of restructuring and insolvency practitioners, and is actively engaged in pro bono activities.