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Insolvency Initiative Consultation on an effective insolvency framework within the EU

Insolvency Initiative Consultation on an effective insolvency framework within the EU. Mihaela CARPUS CARCEA Directorate-General for Justice and Consumers Unit A1 Civil Justice Policy. Practical information. Period of consultation: 23/03/16 until 14/06/16

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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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