Cross-border insolvency law in the EU

Insolvency law concerns the balancing of several
potentially conflicting interests: those of the
creditors of an insolvent company, its
shareholders and its customers, as well as the
general economic interest in avoiding the
winding down of companies which are still
potentially viable. Currently, insolvency law is not
harmonised at EU level. However, the Insolvency
Regulation lays down the rules on jurisdiction,
recognition and applicable law in the field in
respect of cross-border insolvency. The
Commission has recently proposed its reform.