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Legislation Comment: Opt-In to Coordination Proceeding According to the Czech Insolvency Law

The European Insolvency Regulation enables to coordinate recovery procedures of the group of companies within the EU member states on voluntary basis. In the matter of approval of coordinated proceeding the national rules for approval of recovery proceedings are referred. The authors therefore deal with the question whether and how it is possible to apply national legislation on decision to opt-in to coordination proceeding in the frame of Czech law. The paper also focuses on question who gives approval to opt-in and what kind of majority is needed. Furthermore there is a question raised whether the conditions for approval according to national rules should have been passed to European level of legislation.
Contractual interpretation, commercial contracts, principles of interpretation, subjective interpretation, objective interpretation, contextualism, textualism, English contract law, French contract law