Insolvency law: Gateway into a new future?

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In November 2016 the European Commission presented a new set of rules on business insolvency. The proposal for a directive should help to increase the opportunities for companies in financial difficulties to restructure early on in order to prevent bankruptcy. It shall also ensure that entrepreneurs get a second chance after a bankruptcy and contribute to more effective and efficient insolvency procedures throughout the EU. The proposed Directive focuses on three key elements: a) common principles on the use of early restructuring frameworks, b) rules to allow entrepreneurs to benefit from a second chance, as they will be fully discharged of their debt after a maximum period of 3 years and c) targeted measures for Member States to increase the efficiency of insolvency, restructuring and discharge procedures. Our workshop will discuss the key elements of the proposal, whether they effectively can contribute to a better restructuring culture in the EU and if they allow greater cross border investment. The workshop will be held in German language.