The legal nature of the insolvency protocols between insolvency practitioners under the EIR 2015/848 and the "comply or explain" regime

The essay examines in first instance the provisions of EIR2000/1346 on the duty to cooperate and communicate. It then focuses on the comparable provisions of EIR 2015/848 and on the insolvency protocols with the aim of addressing the issue of the legal nature of insolvency protocols. The Authors also examine the “comply or explain” regime provided by Article 70(2) of EIR 2015/848 inconnection with the coordinator’s recommendations of the group coordination plan, and explain the reasons for advocating a similar regime in connection with European insolvency protocols