EIR Recast (Regulation (EU) 2015/848)

The EIR Recast (Regulation (EU) 2015/848) is an EU law that governs cross-border insolvency cases within the EU. It aims to simplify and clarify the rules for dealing with bankruptcies that involve multiple countries. The regulation helps determine which country’s laws apply, ensuring consistent treatment of creditors and debtors. It also promotes efficient procedures and cooperation between national courts, making the process fairer and more predictable for businesses and individuals facing financial difficulties. Ultimately, it seeks to protect the interests of all parties involved in insolvencies across European borders.