INSOL Europe Yearbook 2022: Restructuring and insolvency tools in times of crisis (1st edition). INSOL Europe, Nottingham: INSOL Europe. 2022. pp. xiv and 318. Free to members. ISBN: 978‐2‐4743‐2539‐4

• Published date: 01 December 2023
• Author: Eugenio Vaccari
• Date: 01 December 2023
• DOI: http://doi.org/10.1002/iir.1503

BOOK REVIEW

INSOL Europe Yearbook 2022: Restructuring

and insolvency tools in times of crisis (1st

edition)INSOL Europe, Nottingham: INSOL

Europe. 2022. pp. xiv and 318. Free to members.

ISBN: 978-2-4743-2539-4

Eugenio Vaccari

Department of Law and Criminology, School of Law and Social Sciences, University of London, Egham, UK

Email: eugenio.vaccari@rhul.ac.uk

The first edition of the Yearbook was created with a specific purpose in mind: to inspire

and encourage young members of INSOL Europe to engage in the discussions held at the

group's annual meeting, and to provide them with a platform to express their views on

restructuring and insolvency tools in times of crisis. The fact that INSOL Europe was able

to organise two annual conferences throughout 2022 (Dublin, Ireland in March and

Dubrovnik, Croatia in October) explains the voluminous and high-quality material included

in this publication.

The focus of the Yearbook is on “restructuring tools.”The Yearbook includes an impres-

sive series of 17 chapters that analyse these tools from a domestic, European or comparative

perspective. The Yearbook opens with a contribution from Olha Stakheyeva-Bogovyk on pre-

ventive restructuring tools under Ukrainian law. This paper is extremely valuable as it pro-

vides a ‘first-hand’insight from some of the international experts that have been involved in

the drafting of the pre-insolvency framework in Ukraine. It is very interesting to learn that

the current Ukrainian framework was modelled on a law prepare d for Kuwait, whic h was in

turn adapted from a law prepared for Montenegro, which in turn drew heavily from

Turkish law.

This chapter is not the only one to develop a country-focused approach to the topic of

preventive restructuring tools. National reforms feature prominently in Chapters 5 (Portugal),

7 (France), 8 (Ireland), 9 (Italy) and 11 (Poland), among others. Other contributions focus on

changes to European rules and their impact on member states. This is, for instance, the case of

Chapter 2 written by Simon Murphy, a partner at Beauchamps LLP in Dublin (Ireland). The

chapter focuses on the treatment of small businesses in distress, and on the impact of

the changes introduced by the Preventive Restructuring Directive. By conducting a comparative

analysis between Irish, American, English, German, Dutch and Italian provisions—a Herculean

effort in itself!—the author observes that the European provisions had the benefit of promoting

Received: 22 February 2023 Accepted: 2 August 2023

DOI: 10.1002/iir.1503

© 2023 INSOL International and John Wiley & Sons Ltd.

584 Int Insolv Rev. 2023;32:584–585.

wileyonlinelibrary.com/journal/iir