Regulation (EU) 2015/848

Regulation (EU) 2015/848 sets out the rules for handling insolvency cases across European Union member states. It aims to coordinate procedures when a company or individual cannot pay their debts, ensuring a fair and efficient process. The regulation provides common standards for opening, conducting, and closing insolvency proceedings, facilitating cross-border cooperation and recognition of insolvency decisions within the EU. Its goal is to maintain legal certainty, protect creditors' rights, and promote effective resolution of insolvencies to support economic stability and recovery.