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Insolvency Initiative Consultation on an effective insolvency framework within the EU

Join the EU Insolvency Initiative Consultation to shape an effective framework for insolvency proceedings within the EU. This consultation aims to gather diverse perspectives to identify crucial areas for improvement, such as preventive restructuring, second chance opportunities, ranking of claims, and more. Have your say on aspects impacting the internal market and capital integration. Visit the EU consultation page to contribute your insights and help enhance debt recovery systems. Your feedback matters!

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Insolvency Initiative Consultation on an effective insolvency framework within the EU

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  1. Insolvency InitiativeConsultation on an effective insolvency framework within the EU Mihaela CARPUS CARCEA Directorate-General for Justice and Consumers Unit A1 Civil Justice Policy

  2. Practical information • Period of consultation: 23/03/16 until 14/06/16 • Online consultation questionnaire (EU-Survey) • All EU languages (from mid-April) • Open questions and free text boxes • Optional questions • Separate written contributions • Transparency Register

  3. Objectives • Gather views of broadest possible range of respondents • Identify aspects having particular importance for Internal Market or the integration of capital markets • Identify aspects that could form part of a legislative initiative or other possible complementary action

  4. Subject matters covered • General scope and envisaged problem areas • Focus on: • Preventive restructuring proceedings • Matters already covered by the 2014 Recommendation (stay, new finance, cram-down, involvement of courts etc.) • + New areas: valuation questions, harmonisation of insolvency test, incentives for directors to file early, early warning and support measures • Second chance • Matters already covered by the 2014 Recommendation (e.g. discharge periods, excluded claims) • + New areas: consumer insolvency, availability of debt advice, common definition of "honesty"

  5. Other matters with impact on the recovery of debts • Ranking of claims and order for priorities • Avoidance actions • Insolvency practitioners • Specialisation of courts • Disqualification orders for directors

  6. Thank you! • The consultation is available at: • http://ec.europa.eu/justice/newsroom/civil/opinion/160321_en.htm

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