Navigation path

Login   |   Register
 

Advanced search Search in:    Audio    Photo    Video    Shotlist


OR









Press conference by Viviane Reding on modern insolvency rules to give businesses a second chance

97 views

On 12 December 2012, Viviane Reding, Vice-President of the EC in charge of Justice, Fundamental Rights and Citizenship, gave a press conference in Strasbourg. On this occasion, she presented a new Commission's proposal to modernise Europe’s rules on cross-border business insolvency, helping to give otherwise viable businesses a ‘second chance’ The Commission is proposing to modernise the current rules on cross border insolvency which date from 2000. Benefitting from ten years of experience, the new rules will shift focus away from liquidation and develop a new approach to helping businesses overcome financial difficulties, all the while protecting creditors' right to get their money back. The new rules will increase the efficiency and effectiveness of cross-border insolvency proceedings, affecting an estimated 50 000 companies across the EU every year. This is a first step towards an EU "rescue and recovery" culture to help companies and individuals in financial difficulties; this is explored further in a policy communication adopted in parallel today which identifies those areas of national insolvency law which have the greatest potential to create an "unfriendly" business environment and to hamper the development of an efficient insolvency framework in the internal market.
INFO PRESS MEMO SPEECH

Type: EbS   Reference: 89973   Date: 12/12/2012   Duration: 00:16:25
To download, please log in



Related media

Press conference by Viviane Reding, Vice-President of the EC, on modern ...
Ref: P-022419/00-06
Date: 12/12/2012
Extracts from the press conference by Viviane Reding on modern insolvency rules ...
Ref: 91010
Date: 12/12/2012
Press conference by Viviane Reding on modern insolvency rules to give businesses ...
Ref: 89973
Date: 12/12/2012

New Video Player (Version 1)
More info

Press packs


Go to useful links page Useful links

Go to rss page Go to EU Tube page Go to twitter page Go to facebook page Go to contact page


Credit © European Union, 2014