Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-11-15-Speech-2-434-276"

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"en.20111115.27.2-434-276"2
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"Insolvency proceedings are very different among the 27 Member States of the Union. Regulation at EU level therefore aims to prevent parties from being encouraged to transfer their assets or to relocate judicial proceedings from one Member State to another to benefit from the most advantageous jurisdiction. In recent years, the phenomenon of groups of companies has increased. This is likely to result in the commencement of several separate proceedings in different jurisdictions with respect to each of the insolvent group members, with the risk that the group may be broken into its constituent parts rather than reorganised. Future regulation should therefore relate to groups of companies and stipulate that proceedings should be opened in the Member State where the operational headquarters of the group are located. The interests of workers should not be forgotten, which is why it is necessary to increase the priority of employees’ claims relative to other creditors’ claims."@en1

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