Press Release: Modern Insolvency Rules: European Commission kicks off EU-wide interconnection of insolvency registers

The European Commission launched on the 7 July 2014 an EU-wide interconnection of national insolvency registers by linking up databases from seven Member States: the Czech Republic, Germany, Estonia, Netherlands, Austria, Romania and Slovenia - with more countries expected to join at a later stage.

This first interconnection serves as a one-stop shop for businesses, creditors and investors looking to invest in Europe. It will help business leaders and entrepreneurs carry out the same checks as they would when investing in their home country and will also support creditors looking to follow up insolvency cases taking place in another EU Member State thanks to information being available at one web address: the European e-Justice Portal.

This pilot project is a first step towards an EU-wide network of insolvency registers. It came ahead of the adoption of a new regulation on insolvency, which includes these insolvency registers.

• Primary Source

European Commission: DG Justice: Civil Justice: Civil and commercial matters: Insolvency proceedings http://ec.europa.eu/justice/civil/commercial/insolvency/index_en.htm

Website: European E-Justice Portal https://e-justice.europa.eu/home.do

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