THE COOPERATION AND THE COMMUNICATION WITHIN THE PROCEDURES CONCERNING THE INSOLVENCY OF THE GROUP OF COMPANIES IN ACCORDANCE WITH THE REGULATION (EU) NO. 848/ 2015 OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL OF 20TH OF MAY 2015
THE COOPERATION AND THE COMMUNICATION WITHIN THE PROCEDURES CONCERNING THE INSOLVENCY OF THE GROUP OF COMPANIES IN ACCORDANCE WITH THE REGULATION (EU) NO. 848/ 2015 OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL OF 20TH OF MAY 2015

Summary/Abstract: Globalization is a phenomenon with multiple cross-border valences. The opening of markets as a result of globalization generates legal relationships with a foreign element that produce effects in cross-border insolvency. The EU internal market comprises an area without internal frontiers in which the free movement of persons, services and capital requires legal cooperation. The proper functioning of the single market requires the existence and efficient functioning of cross-border insolvency procedures. The Regulation (EC) no. 848/2015 on insolvency procedures is a basic legal instrument for unifying EU insolvency law. It is are assessment and improvement of Regulation (EU) no. 1346/2000 in this field and brings as a novelty the regulations on the cross-border insolvency of the group of companies. The cooperation and the communication in insolvency procedures of members of a group of companies are efficient legal means of achieving such a procedure with foreign elements. The variety of forms of communication and cooperation in this procedure includes: the cooperation and the communication between insolvency practitioners; the cooperation and the communication between courts; the cooperation and the communication between insolvency practitioners and courts.

• Details
• Contents