European Insolvency Regulation

The European Insolvency Regulation is a legal framework that governs how insolvency cases, like bankruptcies, are handled across European Union countries. It aims to streamline the process for businesses and individuals facing insolvency, ensuring that cases are managed efficiently and fairly, regardless of where the debtor is located within the EU. The regulation establishes which national courts have jurisdiction, clarifies which country's laws apply, and promotes cooperation between different countries' insolvency authorities. This helps to safeguard creditors' rights and ensures that debtors can have a fresh start while respecting the laws of various EU nations.