The EU Recommendation on Business Rescue – Only Another Statement or a Cause for Legislative Action Across Europe?

27 Insolvency Intelligence 6, 81-85 (2014)

9 Pages Posted: 22 Aug 2015

See all articles by Stephan Madaus

Stephan Madaus

Martin-Luther-University Halle-Wittenberg

Date Written: June 21, 2014

Abstract

On March 12, 2014 the European Commission presented a "Recommendation on a New Approach to Business Failure and Insolvency" that is has two major objectives. The Commission wants to ensure that viable enterprises in financial difficulties, wherever they are located in the Union, have access to national insolvency frameworks which enable them to restructure at an early stage with a view to preventing their insolvency, and therefore maximize the total value to creditors, employees, owners and the economy as a whole. The Recommendation also aims at giving honest bankrupt entrepreneurs a second chance across the Union. The paper explains and discusses the Recommendation and its fallout.

Keywords: business rescue, EC recommendation, harmonisation, EU insolvency law, bankruptcy

Suggested Citation

Madaus, Stephan, The EU Recommendation on Business Rescue – Only Another Statement or a Cause for Legislative Action Across Europe? (June 21, 2014). 27 Insolvency Intelligence 6, 81-85 (2014), Available at SSRN: https://ssrn.com/abstract=2648825

Stephan Madaus (Contact Author)

Martin-Luther-University Halle-Wittenberg ( email )

Faculty of Law , Economics and Business
Universitaetsring 2
Halle/Saale, 06108
Germany

HOME PAGE: http://www.jura.uni-halle.de/lehrstuehle_dozenten/madaus/madaus/?lang=en

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