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Regulation (EU) 2015/848 of the European Parliament and of the Council of 20 May 2015 on insolvency proceedings (recast)

article  72

CELEX:  02015R0848-20250501

Tasks and rights of the coordinator
1. The coordinator shall:
(a) identify and outline recommendations for the coordinated conduct of the insolvency proceedings;
(b) propose a group coordination plan that identifies, describes and recommends a comprehensive set of measures appropriate to an integrated approach to the resolution of the group members' insolvencies. In particular, the plan may contain proposals for:
(i) the measures to be taken in order to re-establish the economic performance and the financial soundness of the group or any part of it;
(ii) the settlement of intra-group disputes as regards intra-group transactions and avoidance actions;
(iii) agreements between the insolvency practitioners of the insolvent group members.
Regulation (EU) 2015/848 of the European Parliament and of the Council of 20 May 2015 on insolvency proceedings (recast)

article  72

CELEX:  02015R0848-20250501

2. The coordinator may also:
(a) be heard and participate, in particular by attending creditors' meetings, in any of the proceedings opened in respect of any member of the group;
(b) mediate any dispute arising between two or more insolvency practitioners of group members;
(c) present and explain his or her group coordination plan to the persons or bodies that he or she is to report to under his or her national law;
(d) request information from any insolvency practitioner in respect of any member of the group where that information is or might be of use when identifying and outlining strategies and measures in order to coordinate the proceedings; and (e) request a stay for a period of up to 6 months of the proceedings opened in respect of any member of the group, provided that such a stay is necessary in order to ensure the proper implementation of the plan and would be to the benefit of the creditors in the proceedings for which the stay is requested; or request the lifting of any existing stay. Such a request shall be made to the court that opened the proceedings for which a stay is requested.
Regulation (EU) 2015/848 of the European Parliament and of the Council of 20 May 2015 on insolvency proceedings (recast)

article  72

CELEX:  02015R0848-20250501

3. The plan referred to in point (b) of paragraph 1 shall not include recommendations as to any consolidation of proceedings or insolvency estates.
4. The coordinator's tasks and rights as defined under this Article shall not extend to any member of the group not participating in group coordination proceedings.
5. The coordinator shall perform his or her duties impartially and with due care.
6. Where the coordinator considers that the fulfilment of his or her tasks requires a significant increase in the costs compared to the cost estimate referred to in point (d) of Article 61(3), and in any case, where the costs exceed 10 % of the estimated costs, the coordinator shall:
(a) inform without delay the participating insolvency practitioners; and (b) seek the prior approval of the court opening group coordination proceedings.