ELI Instrument Impacting the European Legal Community

25.09.2018

ELI’s aim to improve the laws in Europe through its projects has shown a significant impact lately

The ELI Instrument on the ‘Rescue of Business in Insolvency Law’ is significantly influencing key policy makers. In the last week of August 2018, the United Kingdom (UK) Government announced new legislative tools that will improve rescue opportunities for financially distressed companies. We were delighted to see that this report refers explicitly to the ELI Instrument on the Rescue of Business in Insolvency Law. In particular, the report mentions the discussion about the so-called ‘absolute priority rule’ versus ‘relative priority rule’, elaborated on in the ELI Instrument, and is yet another example that ELI outputs are of immediate practical utility. The ELI instrument can be downloaded for free here.