Insolvency Office Holders´ Forum - A profession under pressure? Fit for innovation? - Guidelines, protocols, law reforms, harmonisation: “How does it suit.

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Presentation transcript:

Insolvency Office Holders´ Forum - A profession under pressure? Fit for innovation? - Guidelines, protocols, law reforms, harmonisation: “How does it suit YOU?”

Insolvency Office Holders´ Forum F.H. Erik Boerma, Raad voor de rechtspraak, The Hague Stephen Harris, EY, London Jim Luby, McStay Luby, Dublin Luis Martin, Abencys, Madrid Moderator: Daniel F. Fritz, hww, Frankfurt am Main

Q1: Are you an IOH? 1) Yes 2) No Answer: 42% 58%

Q2: How would you describe an IOH literally speaking? Answer: 1) Undertaker 2) Pathologist 3) Emergency Doctor 4) Needs head examined! 25% 6% 63% 6%

Q3: Do you think that your national legislation effectively governs the IOH profession? 1) Yes 2) No 3) Yes 4) No Answer Non-IOH Answer IOH : 44% 14% 23% 19%

Q4: Should the European Union implement legislation re. IOHs? 1) Yes 2) No 3) Yes 4) No Answer IOH : Answer Non-IOH 26% 22% 25%

Q5: I love... 1) Guidelines 2) My Spouse/My Cat/My Dog 3) Best Practice Manuals 4) My Job Answer: 14% 47% 2% 37%

Q6: Are IOH Draft guidlines... Answer: 1) Fantastic! 2) Obvious! 3) Worth progressing with... 4) Never heard of them! 8% 13% 41% 39%

Q7: How much harmony do you want? 1) Less is more - I just love those discords! 2) We have the harmonics balanced to perfection 3) I apologise - when we talk about harmony I am thinking of unison Answer: 46% 10% 44%

Q8: Is it sensible to harmonize the qualifications of IOHs on EU level? 1) Yes 2) No 3) Yes 4) No Answer IOH : Answer Non-IOH 24% 36% 17%

Q9: What is the main obstacle of a successful restructuring once a company is subject to formal insolvency proceedings? 1) Lack of procedural framework 2) Too much legislation/formalities 3) Legal uncertainties 4) The IOH 7% 33% 42% 18%

Q10: … and who plays the spoilsport? 1) The IOH again? 2) The Debtor/ Manager(s)? 3) Dissenting Creditors? 4) Insolvency Judges? 12% 21% 60% 7%

Q11: How can the IOH-Forum assist the profession? 1) Adopting guidelines / Best Practice Standards 2) Lobbying with EU bodies 3) Showcasing / Sampling of successful cases 4) Identifying and putting the finger on "real" problems arising in everyday practice Answer: 14% 10% 17% 59%

After all… Q12: Do you still want to be an IOH (having had your head examined!)? 1) Yes 2) No Answer: 74% 26%