The Commission has just launched a public consultation an effective insolvency framework within the EU

The Commission will propose a legislative initiative on business insolvency, including early restructuring and second chance, drawing on the experience of the Commission Recommendation on a new approach to business failure and insolvency addressed to the Member States  (the "Insolvency Recommendation") adopted on 12 March 2014. The initiative would seek to address the most important barriers to the free flow of capital, building on national regimes that work well. This finding has been confirmed...
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