Memo: Insolvency: European Parliament backs Commission proposal to give viable businesses a ‘second chance’

The European Parliament on 5 February 2014 backed with an overwhelming majority the European Commission's proposal to modernise Europe’s rules on cross-border insolvency.

Member States in the Council now need to reach agreement on the draft law, amongst themselves and with the European Parliament, in order for it to become law.

ESO: Background information: Giving honest businesses a second chance: European Parliament committee backs Commission's insolvency proposal http://www.europeansources.info/record/memo-giving-honest-businesses-a-second-chance-european-parliament-committee-backs-commissions-insolvency-proposal/

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