Exercise of creditors’ rights

This part examines Article 45 of the EU Regulation on Insolvency Proceedings (EIR), which focuses on the exercise of creditors’ rights. It explains how a creditor may lodge its claim in the main insolvency proceedings and in any secondary insolvency proceedings. It also reviews the opening of secondary insolvency proceedings that creates a territorial division of the debtor’s insolvency estate, which triggers the coexistence of autonomous parallel insolvency proceedings. The part explains the aim of Article 45, which is to protect the interests of creditors by neutralising the effects of parallel insolvency proceedings and increasing the prospects of achieving an efficient and equitable distribution of the insolvency estate among all creditors. It establishes a general principle that allows a creditor to lodge its claim in the main insolvency proceedings and secondary insolvency proceedings.