European Insolvency Law

European Insolvency Law refers to a set of regulations that govern how insolvency (or bankruptcy) cases are handled across EU member states. It aims to improve cooperation between countries when a business or individual cannot pay debts. This law allows for the recognition of insolvency proceedings from one EU country in others, making it easier for creditors to recover debts. It establishes procedures that ensure fairness and transparency, while also protecting the interests of debtors and creditors alike, fostering a more efficient and harmonized approach to insolvency across Europe.