Out of the 200,000 EU businesses facing insolvency every year, 50,000 owe money to someone in another member state, which further complicates legal proceedings. EU rules, which date from 2000, aim to faciliatte these proceedings by clarifying which courts should be handling the cases and helping them to cooperate across borders.
One important issue is always to determine what member state should launch the main proceeding, which normally would be where the company has a registered office. The new rules seek to prevent people from exploiting differences between national laws.
REF. : 20150519STO56499
