The European Insolvency Regulation and Implementing Legislations—A Commentary, 1st edition. By GillesCuniberti and AntonioLeandro, Cheltenham: Elgar. 2024. pp. xlix +718. £265. <scp>ISBN:</scp> 978‐1‐80220‐520‐6.

The European Insolvency Regulation and Implementing Legislations—A Commentary, edited by Gilles Cuniberti and Antonio Leandro, is an authoritative and comprehensive analysis of the European Insolvency Regulation (EIR) Recast 2015/848. Published by Edward Elgar Publishing in 2024, this book is part of the Elgar Commentaries in Private International Law series. It is written by a diverse group of established academics predominantly from Italian universities, along with contributions from professionals and one judge. This mix of contributors ensures a rich and multifaceted exploration of the EIR and its practical implications. The Introduction, penned by Antonio Leandro, provides a historical context that is crucial for understanding the evolution of European insolvency law. Leandro outlines the journey from the adoption of the initial European Insolvency Regulation 1346/2000 to the enactment of the Recast Regulation in 2015. This historical overview effectively explains why cross-border insolvencies necessitated a Community-wide approach, addressing private international law issues, such as choice of law and forum. The Introduction successfully highlights the necessity of group provisions and more efficient secondary proceeding mechanisms, which were key enhancements in the recast version. However, it could have offered a more detailed rationale behind the specific amendments in the 2015 Recast. The brief mentions the UK's withdrawal from the EU and its implications on the EIR Recast, along with the complementary nature of the Brussels I-bis Regulation, provide a well-rounded introductory framework for readers. The commentary is methodically divided into seven chapters, mirroring the structure of the EIR Recast. These chapters often begin with succinct introductions that set the stage for the detailed analyses that follow. Chapter I, which deals with general provisions, is particularly noteworthy for its thoroughness. Each article of the EIR Recast is presented verbatim before being dissected. For example, the analysis of Article 1 compares the 2000 and 2015 versions, contextualized with relevant recitals and practical examples from national laws, such as French law. This approach not only clarifies the scope of the regulation but also highlights what is included and excluded, referencing the proceedings listed in Annex A of the EIR Recast. The commentary is enriched with footnotes citing academic papers and EU case law, providing a robust academic foundation. Article 2, which addresses main definitions, is another highlight, particularly its focus on the localization of assets, illustrated through key case law like Nortel Networks ECLI:EU:C:2015:384. Article 3, concerning the notion of the centre of main interest (COMI), is a critical part of the book. Unsurprisingly, this has been authored by one of the editors. This section delves deeply into the evidence required to establish COMI in a specific jurisdiction and addresses complexities related to groups of companies and forum shopping practices. Article 7, covering applicable law, is introduced with an explanation of the preference for lex fori concursus and the issues that arise at different stages of insolvency procedures. The section on third-party rights in rem (Article 8) is meticulously detailed, concluding with a critical assessment and suggestions for a new regime for recognizing rights in rem and privileges in relation to assets in other countries. Chapter II addresses the recognition of insolvency proceedings and does an exemplary job explaining the simplified regime for recognizing foreign judgments, including those not issued by judicial bodies. The section on Article 19, outlining the general principle for recognition, clarifies the scope of this regime and its implications for scholars and practitioners outside the EU. This section highlights that recognition does not necessarily entail enforcement of a foreign judgment, an important distinction. Articles 20 and 24, focusing on the effects of recognition and the establishment of insolvency registers, respectively, are also covered comprehensively. The detailed analyses of Articles 25–30 and other key provisions such as the recognition and enforcement of judgments (Article 32) and the public policy exception (Article 33) underscore the importance of a consistent and restrictive interpretation of such exceptions, supported by extensive case law and literature. Chapter V, dedicated to group insolvencies, explores the new mechanisms for procedural consolidation of proceedings involving group companies. The chapter is divided into sections on cooperation and communication, and coordination. The latter section provides clear distinctions between procedural coordination and general provisions applicable to coordination. Despite the limited case law in this area, the commentary effectively references other academic publications to provide a thorough understanding of the topics covered in the provisions of the EIR Recast. Compared to other commentaries, the language used in this book is notably accessible, making it suitable for a wide audience. The detailed footnotes offer a wealth of references to external authoritative sources, serving as a starting point for further research. This commentary is a valuable resource for both academics and professionals, within and outside the EU, offering insights that cater to those with an in-depth understanding of the topic as well as newcomers. For academic purposes, this commentary is an essential addition to libraries offering master's level courses or research programs on European insolvency law. Its detailed analysis may be too advanced for undergraduate courses but is ideal for graduate-level study and professional reference. Overall, this work is a significant contribution to the field, providing clarity and depth on a complex and evolving area of law.

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