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Informal Justice and Home Affairs Ministers Meeting
Dublin 17 - 18 January 201
Discussion !a"er # $ession I %Justice&
European Cross-Border Insolvency Law
1. BACKGROUND
1.1 The Regulation on Insolvency Proceedings (EC) No 1346!"""
entered into
#orce on 31 $ay !""!. Its o%&ectives 'ere to sili#y
#oralities governing the
recirocal recognition and en#orceent o# &udgents in
cross*%order insolvency
atters only. It did not see+ to haronise insolvency la's o# the
$e%er ,tates. TheRegulation has %rought a%out a signi#icant change
to the handling o# cross*%order
insolvency roceedings 'ithin the E- since !""!.
1.! o'ever/ revie' o# the Regulation is no' due. 0i##erences in
national
insolvency la's reain and iortant ne' issues such as
re*insolvency
roceedings2 and hy%rid roceedings2 'ere not addressed in the
original scoe. In
addition/ there have %een issues/ in regard to the oening o#
insolvency roceedings
'here the location o# the Centre o# $ain Interest (C$I) o# the
de%tor ay %e in
contention/ 'hich have reuired &udicial deterination.
2. THE COMMISSION PROPOSAL
!.1 The Coission adoted a ac+age o# easures on 1! 0ece%er/
!"1!
setting out a ne' Euroean aroach to %usiness #ailure and
insolvency and 'hich
#or art o# the overall 5ustice #or 7ro'th8 Prograe. The critical
eleents o# the
ac+age are9
* the Proosal #or a Regulation o# the Euroean Parliaent and o#
the Council
aending Council Regulation (EC) No 1346!""" o# !: $ay !"""
on
insolvency roceedings and
* a Counication entitled 5; ne' Euroean aroach to %usiness
#ailure andinsolvency8.
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,tates is still ongoing. Nevertheless/ having regard to the
roosals o# the
Coission and dra'ing on their relevant doestic e=erience/
$inisters are as+ed
to consider the #ollo'ing uestions and to e=ress reliinary
vie's9
Ques!"# 1 $ are the easures contained in the roosed Regulation
%roadly su##icient
to achieve a second chance culture #or via%le %usinesses
encountering teorary#inancial di##iculty and #or individualsA
Ques!"# 2 $ are the roosed easures an aroriate %asis on 'hich to
#urther
develo the E-2s insolvency la' and rocedures along the lines
suggested in the
Coission CounicationA
Ques!"# 3 $ are the roosed easures adeuate to counteract the
di##iculties
resulting #ro %an+rutcy tourisA
Ques!"# 4 $ are there other areas o# insolvency la' 'hich ight
also %e addressed
during the discussions on the Insolvency RegulationA
