AMENDING REGULATION (EC) NO.1346/2000 ON INSOLVENCY PROCEEDINGS - SOLVING DEFICIENCIES OR ATTEMPT TO RESCUE COMPANIES IN DIFFICULTY?

EC Insolvency Regulation claims, after more than 10 years, several changes imposed by some of the issues raised by the practice of its application but also by the need to promote economic recovery for enterprises in difficulty in the current economic crisis. This paper analyzes the major segments of change and aims to determine whether these segments provide a coherent answer for the practical difficulties faced by the EC Regulation and whether extending its scope by revising the definition of insolvency proceedings may offer better chances of recovery for the enterprises in difficulty.