EU regulation 1346/2000

EU Regulation 1346/2000 establishes rules for insolvency proceedings across European Union member states. Its primary goal is to ensure that insolvency cases are handled consistently and efficiently, allowing a business in financial trouble to be rehabilitated or liquidated fairly. The regulation outlines which country’s courts have jurisdiction over insolvency cases, promotes cooperation among member states, and aims to protect creditors’ rights while minimizing delays in proceedings. Essentially, it helps create a cohesive legal framework for dealing with insolvency issues in the EU, encouraging stability in cross-border financial situations.