Press Release: Insolvency: Commission recommends new approach to rescue businesses and give honest entrepreneurs a second chance

On the 12 March 2014, the European Commission set out a series of common principles for national insolvency procedures for businesses in financial difficulties.

The objective is to shift the focus away from liquidation towards encouraging viable businesses to restructure at an early stage so as to prevent insolvency.

The results of the consultation were published while a new Insolvency regulation was being discussed in the EU institutions.

• Primary Source

ESO: Background information: Commission seeks public input on European approach to business insolvency http://www.europeansources.info/record/press-release-commission-seeks-public-input-on-european-approach-to-business-insolvency/

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