Solution of Compromise to the Harmonisation of Transaction Avoidance in EU
- Date: Wednesday 23 October 2019, 13:00 – 14:00
- Location: Liberty Building SR (G.29)
- Cost: Free
A Solution of Compromise to the Harmonisation of Transaction Avoidance in the European Union with Oriana Casasola. Work-in-Progress Seminar.
In the last decades, few studies have focused on the harmonisation of transaction avoidance within the European Union Insolvency Framework. Transaction avoidance is intended as the complex of rules relating to 'voidness, voidability or unenforceability of legal acts' undertaken at the eve of insolvency and detrimental to the general body of the creditors. So far, the studies that have addressed harmonisation of the topic have considered the option of full harmonisation, i.e. the creation of uniform rules applicable across the EU in substitution to the national rules. However, there are strong arguments against the feasibility of the implementation of such a proposal. This three-part paper argues for a partial EU harmonisation of transaction avoidance. First, the author critically assesses the current regime of transaction avoidance and analyses the proposals of full harmonisation on the topic. Second, the paper explores the possibility of an alternative form of harmonisation. In this sense, it proposes a partial harmonisation to fit within the current EU Private International Law (PIL) system. This compromise should encompass a partial harmonisation of transaction avoidance providing unified rules to be applied in cross-border circumstances. At the same time, PIL rules should modulate when the harmonised rules should be applied. The second part seeks to illustrate the PIL rules that should be used to support the application of the harmonised rules. Lastly, the author attempts to provide general guidance on the content of the proposed harmonised rules.
Oriana Casasola is a PGR student at the University of Leeds School of Law. Her research addresses the topic of the harmonisation of transaction avoidance within and outisde corporate insolvency law in the European Law. Transaction avoidance is a group of legal remedies, available both in insolvency law and in private law providing the creditor with the possibility to require the nullification of debtors’ transactions in case of transfer of property in fraud of creditors.
All welcome. This is a free event, though registration is required via Eventbrite.