Warren de Waegh, PhD researcher at the Commercial Law Department of Erasmus School of Law, has won the gold medal in the 2021 Prize in International Insolvency Studies, organized by the International Insolvency Institute. The III Prize is awarded annually for an exceptional contribution to the field of international insolvency law.
The prize is awarded by the International Insolvency Institute (III), a limited membership organization made up of experienced and renowned insolvency lawyers, judges, academics, legislators, and administrators in the insolvency law field.
The protection of maritime liens in insolvency procedures
The jury, consisting of seven renowned international academics in insolvency law, awards the prize for de Waegh's exceptional contribution to the field of international insolvency law. De Waegh won the prize for his article: "The Administration of Maritime Liens in a European Maritime Insolvency. Man Overboard? ". In the article, de Waegh describes how maritime liens can be adequately protected under the European Insolvency Regulation. The research focuses on four EU Member States that are crucial for maritime trade in Europe: Belgium, Germany, France, and the Netherlands.
This comparative law analysis demonstrates that maritime liens are highly similar across borders, even though these privileges are often classified differently depending on the relevant national law. Therefore, it is recommended to treat these maritime liens consistently under the Insolvency Regulation. In addition, the article recommends that insolvency proceedings should not affect maritime liens in order to protect maritime trade during the insolvency of a shipping company.
Congress in New York City
By winning this competition, de Waegh is not only awarded a cash prize, but he also becomes a member of Class X of the III NextGen Leadership Program. In addition, he has been invited to present his research at the III Annual Congress in New York City in October 2021.
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This article was written in the context of Warren de Waegh's PhD research at Erasmus School of Law under the supervision of Prof. Frank Smeele and Prof. Xandra Kramer on insolvencies of shipping companies. The article will also be published in the Norton Journal of Bankruptcy Law and Practice.