The EU Council Regulation in Insolvency Proceedings should make it easier to recover the debts of failed companies across the European Union. But a harmonised EU insolvency law is still some way off, writes Devi Shah
The European Union (EU) Council Regulation on Insolvency Proceedings came into force in the UK on 31 May, 2002. Its stated objective is to improve the “efficiency and effectiveness of insolvency proceedings” having cross-border effects within the EU.
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