Memo: Insolvency: European Parliament backs Commission proposal to give viable businesses a ‘second chance’

The European Parliament on 5 February 2014 backed with an overwhelming majority the European Commission's proposal to modernise Europe’s rules on cross-border insolvency.

Member States in the Council now need to reach agreement on the draft law, amongst themselves and with the European Parliament, in order for it to become law.

• Primary Source

ESO: Background information: Giving honest businesses a second chance: European Parliament committee backs Commission's insolvency proposal http://www.europeansources.info/record/memo-giving-honest-businesses-a-second-chance-european-parliament-committee-backs-commissions-insolvency-proposal/

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