Recognition of English Fixed and Floating Charges in German Insolvency Proceedings Under the New European Regulation on Insolvency Proceedings

Michael Bütter

Rechtsanwalt, Dr , Hamburg office of CMS Hasche Sigle

jcls Vol 2 Issue 2 (December 2002)

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Abstract

This article seeks to consider the impact of the European Regulation on Insolvency Proceedings with specific reference to English and German law. It addresses the scope of the Regulation, its benefits and its disadvantages. The article also shows the impact of the Regulation on rights of security. Notwithstanding the Regulation, rights of security created under English law may not be recognised by German courts applying German principles of public policy, as permitted by Article 26 of the Regulation.

Keywords

European regulation, Germany, fixed and floating, floating charges, insolvency, public policy, right of security, company law