ERREMME BUSINESS ADVISORS

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Erremme’s David and Marco Bajada attend INSOL Europe EECC Conference in Krakow, Poland

Date

The INSOL Europe Eastern European Countries’ Committee Conference was held on June 13 – 14 2024, with an overall theme of ‘Substance and Form’. The conference included an analysis of the current challenges distressed companies are facing. Since the last EECC Conference, inflationary pressures, soaring interest rates, geopolitical uncertainties, and an energy crisis put even the more robust sectors to the test. Key topics included the road testing of EU preventive restructuring frameworks which have been implemented in recent years which provided the opportunity to assess the preventive restructuring stay in different jurisdictions.

INSOL Europe seeks to create viable solutions for insolvency, bankruptcy, and business recovery by facilitating networking and providing help in the exchange of professional experience across borders. With over 1,250 members across 50 countries made up of lawyers, accountants, judges, regulators, academics and bankers, INSOL Europe makes a significant contribution to the work of European and international official bodies in this regard.

Erremme Business Advisors, represented by two of the company’s Directors, Mr David Bajada and Mr Marco Bajada attended the Conference to further enhance the knowledge required by the company to remain abreast of insolvency issues within the business community.

In describing their experience, Erremme’s David and Marco said, “The conference was mainly focused on the Insolvency laws and practices of Eastern European countries.  It also delved into the Proposed EU Directive on the harmonisation of EU insolvency laws.  During the course of the conference, speakers explained their country’s practices including government platforms for the registration of Insolvency applications.  The main attendees were lawyers. However, it was highly apparent that the absolute majority of attendees were greatly appreciative of the fact that Malta has included accountants and auditors in the list of potential licensed Insolvency Practitioners. Their input and assistance throughout the whole process is deemed very important since the IPs also have to deal with the financial aspect during the course of the Pre-Insolvency Restructuring procedures.”

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