Improving the means available to insolvency practitioners to identify and trace assets belonging to an insolvency estate, as well as assets subject to avoidance actions, is essential to maximise the value of the insolvency estate. When performing their duties, insolvency practitioners can access information held in public data registers, some of which have been established under Union law and are interconnected at European level, such as the Business Registers Interconnection System (BRIS) referred to in Directive (EU) 2017/1132 of the European Parliament and of the Council or the Insolvency Registers Interconnection system (IRI) established pursuant to Regulation (EU) 2015/848. Having access only to information held in public databases, however, is often not sufficient in order to identify and trace assets that are, or should form, part of an insolvency estate. In particular, insolvency practitioners face practical difficulties when they try to access asset registers located in Member States other than the Member State in which they have been appointed.
Text as published in the Official Journal, reproduced verbatim (including any typographical quirks of the source). For the authentic version, see EUR-Lex.
