A NEW APPROACH IN CROSS BORDER CASES - REGULATION (EU) NO 2015/848 OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL OF 20 MAY 2015 ON INSOLVENCY PROCEEDINGS (RECAST)?
Journal Title: Challenges of the knowledge society ( Provocari ale societatii cunoasterii ) - Year 2017, Vol 9, Issue 11
Abstract
Following numerous attempts to recast Regulation (EC) No 1346/2000 on insolvency proceedings, the appearance of EU Regulation 2015/848 (recast) aims to solve the problems encountered in practice regarding rules establishing international jurisdiction in opening the main proceedings but preventing also fraudulent forum shopping , new ways to coordinate of insolvency proceedings relating to the same debtor or to several companies belonging to the same group, new design for secondary proceedings and also a more accessible way for lodging claims and obtaining information about cross border proceedings .At last, is also important to understand the need of the extension of the scope of this Regulation to proceedings which promote the rescue of economically viable but distressed businesses and which give a second chance to entrepreneurs.
Authors and Affiliations
Gabriela FIERBINŢEANU, VASILE NEMEŞ
Keywords
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