To maximise the effectiveness of the assessment, the EBRD is supported by the International Development Law Organization (IDLO), UNCITRAL, INSOL Europe, and INSOL International and is cooperating with the European Commission.
The EBRD Legal Transition Team works closely with the European Commission’s Directorate-General for Structural Reform Support (DG REFORM) on insolvency related projects in EBRD countries of operations, which are members of the European Union (EU). These projects also help to develop initiatives that can be launched in countries outside the EU. See our Country Projects. In this Business Reorganisation Assessment project, DG REFORM has assisted with contacts and providing copies of EU member state legislation.
The team was also supported by colleagues at the International Development Law Organisation (IDLO), who specialise in delivering training to judges.
Further guidance was provided by UNCITRAL, the United Nations Commission on International Trade Law, which has a mandate to further the progressive harmonisation and modernisation of the law of international trade by preparing and promoting the use and adoption of legislative and non-legislative instruments in a number of key areas of commercial law, including insolvency.
The Legal Transition Team believes firmly in the need for effective collaboration between public authorities and the private sector for successful legal reform. We are supported in 13 of the Assessment countries by Investment Councils, which provide a platform where businesses and policymakers can come together to tackle investment climate-related challenges in a systematic and results-oriented fashion. The Investment Councils are helping to lead the dialogue with national authorities in these countries based on the results of the Assessment.
The team has also worked on this initiative with INSOL Europe and INSOL World, both transnational multi-layered international organisations including practitioners, judiciary and academics, specialising in insolvent restructuring. The inclusion of these partners helped the EBRD to reach as many contacts and experts in the business reorganisation and insolvency field as possible.