A NEW APPROACH TO BUSINESS FAILURE, RESTRUCTURING, INSOLVENCY PREVENTION AND INSOLVENCY AT UNION LEVEL
A NEW APPROACH TO BUSINESS FAILURE, RESTRUCTURING, INSOLVENCY PREVENTION AND INSOLVENCY AT UNION LEVEL
Author(s): Adrian ȚuțuianuSubject(s): Law, Constitution, Jurisprudence, EU-Legislation, Commercial Law
Published by: Editura Bibliotheca
Keywords: European Union; insolvency prevention and insolvency proceedings; business restructuring; internal market; discharge of debts;
Summary/Abstract: At Union level, there has been since 2019 a constant concern to harmonize the internal laws on insolvency prevention and insolvency proceedings. This new approach started from the idea that there are major differences between internal laws which may affect the internal market. Member States have been encouraged to introduce insolvency prevention proceedings to enable the viable undertakings to restructure and to offer entrepreneurs natural persons a second chance to get discharged of debts within maximum three years of opening an insolvency proceeding.
Journal: Valahia University Law Study
- Issue Year: 37/2021
- Issue No: 1
- Page Range: 7 - 22
- Page Count: 16
- Language: English
