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European Insolvency Law

13 December 2012, 18:21 CET
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European Insolvency Law is laid down in Regulation (EC) No 1346/2000 on insolvency proceedings (the "Insolvency Regulation"), which has applied since 31 May 2002. The Regulation contains rules on jurisdiction, recognition and applicable law and provides for the coordination of insolvency proceedings opened in several EU Member States. The Regulation applies whenever the debtor has assets or creditors in more than one Member State.

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