EU BANKRUPTCY CONFERENCE REFORM
March 1st, 2006
BY KEITH NUTHALL
A EUROPEAN Commission conference designed to ease the damage caused by bankruptcy has heard how most European Union (EU) countries are already reforming their insolvency laws. Speaking at a Commission conference on 'Insolvency and Fresh Start' in Brussels, 120 legal experts from 24 countries were told last year 140,000 corporate insolvencies in the old 15-member EU, risked 1.5 million jobs. EU industry Commissioner Günter Verheugen said: "Too many businesses go bankrupt and don't get a second chance, simply because the legislative ...
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