As technologies investigating the causes of insolvency become more advanced, the question arises what purposes do new generation insolvency investigations have in the legal system and in particular in the context of directors’ liability.
Since the global financial crisis, insolvency and restructuring law have been at the forefront of law reform initiatives in Europe and elsewhere. In light of these developments, the European Law Institute (ELI) started the Business Rescue Project in 2013.
With the advent of blockchain, decentralised nature of company-like structures requires rethinking the way corporate insolvencies are handled. The COMI concept may have to give way to a more consent-based choice of insolvency rules and insolvency forum.