council regul ec insolv proceed council european union regard treati establish european commun articl thereof regard initi feder republ germani republ finland regard opinion european parliament regard opinion econom social committe european union set aim establish area freedom secur justic proper function intern market requir cross border insolv proceed oper effici effect regul adopt order achiev object scope judici cooper civil matter mean articl treati activ undertak cross border effect increasingli regul commun law insolv undertak affect proper function intern market commun act requir coordin measur insolv debtor asset proper function intern market avoid incent parti transfer asset judici proceed member state seek obtain favour legal posit forum shop object achiev suffici degre nation level action commun level justifi accord principl proportion regul confin provis govern jurisdict open insolv proceed judgment deliv directli basi insolv proceed close connect proceed addit regul provis recognit judgment applic law satisfi principl insolv proceed relat wind insolv compani legal person judici arrang composit analog proceed exclud scope brussel convent jurisdict enforc judgment civil commerci matter amend convent access convent order achiev aim improv effici effect insolv proceed cross border effect provis jurisdict recognit applic law area contain commun law measur bind directli applic member state regul appli insolv proceed debtor natur person legal person trader individu insolv proceed regul appli list annex insolv proceed insur undertak credit institut invest undertak hold fund secur parti collect invest undertak exclud scope regul undertak cover regul subject special arrang extent nation supervisori author extrem wide rang power intervent insolv proceed necessarili involv intervent judici author express quot court quot regul broad mean includ person bodi empow nation law open insolv proceed order regul appli proceed compris act formal set law compli provis regul offici recognis legal effect member state insolv proceed open collect insolv proceed entail partial total divest debtor appoint liquid regul acknowledg fact result wide differ substant law practic introduc insolv proceed univers scope entir commun applic except law state open proceed background frequent lead difficulti appli wide differ law secur interest found commun preferenti right enjoi creditor insolv proceed case complet regul account wai hand provis made special rule applic law case signific right legal relationship right rem contract employ hand nation proceed cover asset situat state open allow alongsid main insolv proceed univers scope regul enabl main insolv proceed open member state debtor centr main interest proceed univers scope aim encompass debtor asset protect divers interest regul permit secondari proceed open run parallel main proceed secondari proceed open member state debtor establish effect secondari proceed limit asset locat state mandatori rule coordin main proceed satisfi uniti commun quot centr main interest quot correspond place debtor conduct administr interest regular basi ascertain parti regul appli proceed centr debtor main interest locat commun rule jurisdict set regul establish intern jurisdict design member state court open insolv proceed territori jurisdict member state establish nation law member state concern court jurisdict open main insolv proceed enabl order provision protect measur time request open proceed preserv measur prior commenc insolv proceed import guarante effect insolv proceed connect regul afford possibl hand court compet main insolv proceed order provision protect measur cover asset situat territori member state hand liquid temporarili appoint prior open main insolv proceed member state establish belong debtor found appli preserv measur law state prior open main insolv proceed request open insolv proceed member state debtor establish limit local creditor creditor local establish case main proceed open law member state debtor centr main interest reason restrict case territori insolv proceed request main insolv proceed intend limit absolut main insolv proceed open territori proceed secondari open main insolv proceed request open insolv proceed member state debtor establish restrict regul liquid main proceed person empow nation law member state request open secondari insolv proceed secondari insolv proceed serv purpos protect local interest case aris estat debtor complex administ unit differ legal system concern great difficulti aris extens effect deriv law state open state asset locat reason liquid main proceed request open secondari proceed effici administr estat requir main insolv proceed secondari proceed contribut effect realis total asset concurr proceed pend coordin main condit liquid cooper close exchang suffici amount inform order ensur domin role main insolv proceed liquid proceed possibl interven secondari insolv proceed pend time propos restructur plan composit appli realis asset secondari insolv proceed suspend creditor habitu resid domicil regist offic commun lodg claim insolv proceed pend commun relat debtor asset appli tax author social insur institut order ensur equal treatment creditor distribut proce coordin creditor receiv insolv proceed entitl particip distribut total asset proceed creditor stand obtain proport claim regul provid recognit judgment open conduct closur insolv proceed scope judgment hand direct connect insolv proceed automat recognit effect attribut proceed law state proceed open extend member state recognit judgment deliv court member state base principl mutual trust end ground recognit reduc minimum basi disput resolv court member state claim compet open main insolv proceed decis court open proceed recognis member state member state power scrutinis court decis regul set matter cover uniform rule conflict law replac scope applic nation rule privat intern law state law member state open proceed applic lex concursu rule conflict law valid main proceed local proceed lex concursu determin effect insolv proceed procedur substant person legal relat concern govern condit open conduct closur insolv proceed automat recognit insolv proceed law open state appli interfer rule transact carri member state protect legitim expect certainti transact member state proceed open provis made number except gener rule special refer diverg law open state case right rem consider import grant credit basi valid extent rem determin lex situ affect open insolv proceed proprietor rem continu assert segreg separ settlement collater secur asset subject right rem lex situ member state main proceed carri member state liquid main proceed request open secondari proceed jurisdict right rem aris debtor establish secondari proceed open surplu sale asset cover right rem paid liquid main proceed set permit law open state creditor entitl set law applic claim insolv debtor set acquir kind guarante function base legal provis creditor concern reli time claim aris special protect case payment system financi market appli posit close agreement net agreement found system sale secur guarante provid transact govern direct ec european parliament council settlement final payment secur settlement system transact law materi applic system market concern provis intend prevent possibl mechan payment settlement transact provid payment set system regul financi market member state alter case insolv busi partner direct ec special provis preced gener rule regul order protect employe job effect insolv proceed continu termin employ right oblig parti employ determin law applic agreement accord gener rule conflict law insolv law question employe claim protect preferenti right statu preferenti right determin law open state busi consider main content decis open proceed publish member state request liquid establish member state concern requir public compulsori case public prior condit recognit foreign proceed case person concern fact awar proceed open act good faith conflict situat order protect person make payment debtor unawar foreign proceed open fact made payment foreign liquid provid payment debt discharg effect regul includ annex relat organis insolv proceed annex relat exclus legisl member state specif substanti reason council reserv amend annex order account amend domest law member state unit kingdom ireland accord articl protocol posit unit kingdom ireland annex treati european union treati establish european commun notic part adopt applic regul denmark accord articl protocol posit denmark annex treati european union treati establish european commun particip adopt regul bound subject applic adopt regul chapter gener provis articl scope regul appli collect insolv proceed entail partial total divest debtor appoint liquid regul appli insolv proceed insur undertak credit institut invest undertak provid servic involv hold fund secur parti collect invest undertak articl definit purpos regul quot insolv proceed quot collect proceed refer articl proceed list annex quot liquid quot person bodi function administ liquid asset debtor divest supervis administr affair person bodi list annex quot wind proceed quot insolv proceed mean point involv realis asset debtor includ proceed close composit measur termin insolv close reason insuffici asset proceed list annex quot court quot judici bodi compet bodi member state empow open insolv proceed decis proceed quot judgment quot relat open insolv proceed appoint liquid includ decis court empow open proceed appoint liquid quot time open proceed quot time judgment open proceed effect final judgment quot member state asset situat quot case tangibl properti member state territori properti situat properti right ownership entitl enter public regist member state author regist claim member state territori parti requir meet centr main interest determin articl quot establish quot place oper debtor carri transitori econom activ human mean good articl intern jurisdict court member state territori centr debtor main interest situat jurisdict open insolv proceed case compani legal person place regist offic presum centr main interest absenc proof contrari centr debtor main interest situat territori member state court member state jurisdict open insolv proceed debtor possess establish territori member state effect proceed restrict asset debtor situat territori member state insolv proceed open paragraph proceed open subsequ paragraph secondari proceed proceed wind proceed territori insolv proceed refer paragraph open prior open main insolv proceed accord paragraph insolv proceed paragraph open condit laid law member state territori centr debtor main interest situat open territori insolv proceed request creditor domicil habitu resid regist offic member state territori establish situat claim aris oper establish articl law applic save provid regul law applic insolv proceed effect member state territori proceed open refer quot state open proceed quot law state open proceed determin condit open proceed conduct closur determin debtor insolv proceed brought account capac asset form part estat treatment asset acquir devolv debtor open insolv proceed respect power debtor liquid condit set off invok effect insolv proceed current contract debtor parti effect insolv proceed proceed brought individu creditor except lawsuit pend claim lodg debtor estat treatment claim aris open insolv proceed rule govern lodg verif admiss claim rule govern distribut proce realis asset rank claim right creditor obtain partial satisfact open insolv proceed virtu rem set condit effect closur insolv proceed composit creditor right closur insolv proceed bear cost expens incur insolv proceed rule relat void voidabl unenforc legal act detriment creditor articl parti right rem open insolv proceed affect right rem creditor parti respect tangibl intang moveabl immov asset specif asset collect indefinit asset chang time time belong debtor situat territori member state time open proceed right refer paragraph dispos asset dispos obtain satisfact proce incom asset virtu lien mortgag exclus claim met guarante lien respect claim assign claim guarante demand asset requir restitut possess contrari wish parti entitl rem benefici asset record public regist enforc parti rem mean paragraph obtain consid rem paragraph preclud action void voidabl unenforc refer articl articl set open insolv proceed affect creditor demand set claim claim debtor set permit law applic insolv debtor claim paragraph preclud action void voidabl unenforc refer articl articl reserv titl open insolv proceed purchas asset affect seller right base reserv titl time open proceed asset situat territori member state state open proceed open insolv proceed seller asset deliveri asset constitut ground rescind termin sale prevent purchas acquir titl time open proceed asset sold situat territori member state state open proceed paragraph preclud action void voidabl unenforc refer articl articl contract relat immov properti effect insolv proceed contract confer acquir make immov properti govern sole law member state territori immov properti situat articl payment system financi market prejudic articl effect insolv proceed right oblig parti payment settlement system financi market govern sole law member state applic system market paragraph preclud action void voidabl unenforc set payment transact law applic relev payment system financi market articl contract employ effect insolv proceed employ contract relationship govern sole law member state applic contract employ articl effect right subject registr effect insolv proceed right debtor immov properti ship aircraft subject registr public regist determin law member state author regist articl commun patent trade mark purpos regul commun patent commun trade mark similar establish commun law includ proceed refer articl articl detriment act articl appli person benefit act detriment creditor proof act subject law member state state open proceed law mean challeng act relev case articl protect parti purchas act conclud open insolv proceed debtor dispos consider immov asset ship aircraft subject registr public regist secur exist presuppos registr regist laid law valid act govern law state territori immov asset situat author regist articl effect insolv proceed lawsuit pend effect insolv proceed lawsuit pend asset debtor divest govern sole law member state lawsuit pend chapter ii recognit insolv proceed articl principl judgment open insolv proceed hand court member state jurisdict pursuant articl recognis member state time effect state open proceed rule appli account capac insolv proceed brought debtor member state recognit proceed refer articl preclud open proceed refer articl court member state proceed secondari insolv proceed mean chapter iii articl effect recognit judgment open proceed refer articl formal produc effect member state law state open proceed regul long proceed refer articl open member state effect proceed refer articl challeng member state restrict creditor right stai discharg produc effect vi vi asset situat territori member state case creditor consent articl power liquid liquid appoint court jurisdict pursuant articl exercis power confer law state open proceed member state long insolv proceed open preserv measur contrari request open insolv proceed state remov debtor asset territori member state situat subject articl liquid appoint court jurisdict pursuant articl member state claim court court moveabl properti remov territori state open proceed territori member state open insolv proceed bring action set interest creditor exercis power liquid compli law member state territori intend action regard procedur realis asset power includ coerciv measur rule legal proceed disput articl proof liquid appoint liquid appoint evidenc certifi copi origin decis appoint certif issu court jurisdict translat offici languag offici languag member state territori intend act requir legalis similar formal requir articl return imput creditor open proceed refer articl obtain mean enforc total partial satisfact claim asset belong debtor situat territori member state return obtain liquid subject articl order ensur equal treatment creditor creditor insolv proceed obtain dividend claim share distribut made proceed creditor rank categori proceed obtain equival dividend articl public liquid request notic judgment open insolv proceed decis appoint publish member state accord public procedur provid state public liquid appoint jurisdict rule appli pursuant articl articl member state territori debtor establish requir mandatori public case liquid author empow effect member state proceed refer articl open measur ensur public articl registr public regist liquid request judgment open proceed refer articl regist land regist trade regist public regist member state member state requir mandatori registr case liquid author empow effect member state proceed refer articl open measur ensur registr articl cost cost public registr provid articl regard cost expens incur proceed articl honour oblig debtor oblig honour member state benefit debtor subject insolv proceed open member state honour benefit liquid proceed person honour oblig deem discharg unawar open proceed oblig honour public provid articl effect person honour oblig presum absenc proof contrari unawar open insolv proceed oblig honour public effect person honour oblig presum absenc proof contrari awar open proceed articl recognit enforc judgment judgment hand court judgment open proceed recognis accord articl concern closur insolv proceed composit approv court recognis formal judgment enforc accord articl except articl brussel convent jurisdict enforc judgment civil commerci matter amend convent access convent subparagraph appli judgment deriv directli insolv proceed close link hand court subparagraph appli judgment relat preserv measur request open insolv proceed recognit enforc judgment refer paragraph govern convent refer paragraph provid convent applic member state oblig recognis enforc judgment refer paragraph result limit person freedom postal secreci articl public polici member state refus recognis insolv proceed open member state enforc judgment hand context proceed effect recognit enforc manifestli contrari state public polici fundament principl constitut right liberti individu chapter iii secondari insolv proceed articl open proceed open proceed refer articl court member state recognis member state main proceed permit open member state court jurisdict pursuant articl secondari insolv proceed debtor insolv examin state proceed proceed list annex effect restrict asset debtor situat territori member state articl applic law save provid regul law applic secondari proceed member state territori secondari proceed open articl request open proceed open secondari proceed request liquid main proceed person author empow request open insolv proceed law member state territori open secondari proceed request articl advanc payment cost expens law member state open secondari proceed request requir debtor asset suffici cover part cost expens proceed court receiv request requir applic make advanc payment cost provid secur articl duti cooper commun inform subject rule restrict commun inform liquid main proceed liquid secondari proceed duti bound commun inform immedi commun inform relev proceed progress made lodg verifi claim measur aim termin proceed subject rule applic proceed liquid main proceed liquid secondari proceed duti bound cooper liquid secondari proceed give liquid main proceed earli opportun submit propos liquid asset secondari proceed articl exercis creditor right creditor lodg claim main proceed secondari proceed liquid main secondari proceed lodg proceed claim lodg proceed appoint provid interest creditor proceed serv subject creditor oppos withdraw lodgement claim law applic liquid main secondari proceed empow particip proceed basi creditor attend creditor meet articl stai liquid court open secondari proceed stai process liquid part receipt request liquid main proceed provid event requir liquid main proceed suitabl measur guarante interest creditor secondari proceed individu class creditor request liquid reject manifestli interest creditor main proceed stai process liquid order month continu renew similar period court refer paragraph termin stai process liquid request liquid main proceed motion request creditor request liquid secondari proceed measur longer appear justifi interest creditor main proceed secondari proceed articl measur end secondari insolv proceed law applic secondari proceed proceed close liquid rescu plan composit compar measur liquid main proceed empow propos measur closur secondari proceed measur refer subparagraph final consent liquid main proceed fail agreement final financi interest creditor main proceed affect measur propos restrict creditor right aris measur refer paragraph propos secondari proceed stai payment discharg debt effect respect debtor asset cover proceed consent creditor interest stai process liquid order pursuant articl liquid main proceed debtor consent propos measur laid paragraph articl secondari proceed propos measur put vote approv articl asset remain secondari proceed liquid asset secondari proceed meet claim allow proceed liquid appoint proceed immedi transfer asset remain liquid main proceed articl subsequ open main proceed proceed refer articl open open proceed refer articl member state articl appli open progress proceed permit articl convers earlier proceed liquid main proceed request proceed list annex previous open member state convert wind proceed prove interest creditor main proceed court jurisdict articl order convers proceed list annex articl preserv measur court member state jurisdict pursuant articl appoint temporari administr order ensur preserv debtor asset temporari administr empow request measur secur preserv debtor asset situat member state provid law state period request open insolv proceed judgment open proceed chapter iv provis inform creditor lodgement claim articl lodg claim creditor habitu resid domicil regist offic member state state open proceed includ tax author social secur author member state lodg claim insolv proceed write articl duti inform creditor insolv proceed open member state court state jurisdict liquid appoint immedi inform creditor habitu resid domicil regist offic member state inform provid individu notic includ time limit penalti laid regard time limit bodi author empow accept lodgement claim measur laid notic creditor claim preferenti secur rem lodg claim articl content lodgement claim creditor send copi support document natur claim date aros amount alleg prefer secur rem reserv titl respect claim asset cover guarante invok articl languag inform provid articl provid offici languag offici languag state open proceed purpos form bear head quot invit lodg claim time limit observ quot offici languag institut european union creditor habitu resid domicil regist offic member state state open proceed lodg claim offici languag offici languag state event lodgement claim bear head quot lodgement claim quot offici languag offici languag state open proceed addit requir provid translat offici languag offici languag state open proceed chapter transit final provis articl applic time provis regul appli insolv proceed open entri forc act debtor entri forc regul continu govern law applic time articl relationship convent entri forc regul replac respect matter refer relat member state convent conclud member state convent belgium franc jurisdict valid enforc judgment arbitr award authent instrument sign pari juli convent belgium austria bankruptci wind arrang composit suspens payment addit protocol june sign brussel juli convent belgium netherland territori jurisdict bankruptci valid enforc judgment arbitr award authent instrument sign brussel march treati germani austria bankruptci wind arrang composit sign vienna convent franc austria jurisdict recognit enforc judgment bankruptci sign vienna februari convent franc itali enforc judgment civil commerci matter sign rome june convent itali austria bankruptci wind arrang composit sign rome juli convent kingdom netherland feder republ germani mutual recognit enforc judgment enforc instrument civil commerci matter sign hagu august convent unit kingdom kingdom belgium provid reciproc enforc judgment civil commerci matter protocol sign brussel convent denmark finland norwai sweden iceland bankruptci sign copenhagen novemb european convent intern aspect bankruptci sign istanbul june convent refer paragraph continu effect regard proceed open entri forc regul regul appli member state extent irreconcil oblig aris relat bankruptci convent conclud state countri entri forc regul unit kingdom great britain northern ireland extent irreconcil oblig aris relat bankruptci wind insolv compani arrang commonwealth exist time regul enter forc articl amend annex council act qualifi major initi member propos commiss amend annex articl report june year commiss present european parliament council econom social committe report applic regul report accompani propos adapt regul articl entri forc regul enter forc regul bind entireti directli applic member state accord treati establish european commun brussel council presid costa opinion deliv march publish offici journal opinion deliv januari publish offici journal oj oj oj oj oj oj oj note declar portug applic articl oj note declar portug applic articl oj annex insolv proceed refer articl belgië belgiqu het failliss la faillit het gerechtelijk akkoord le concordat judiciair de collectiev schuldenregel le règlement collectif de dett deutschland da konkursverfahren da gerichtlich vergleichsverfahren da gesamtvollstreckungsverfahren da insolvenzverfahren españa concurso de acreedor quiebra suspensión de pago franc liquid judiciair redress judiciair avec nomin administrateur ireland compulsori wind court bankruptci administr bankruptci estat person dy insolv wind bankruptci partnership creditor voluntari wind confirm court arrang control court involv vest part properti debtor offici assigne realis distribut compani examinership italia fallimento concordato preventivo liquidazion coatta amministrativa amministrazion straordinaria amministrazion controllata luxembourg faillit gestion contrôlé concordat préventif de faillit par abandon actif régime spécial de liquid du notariat nederland het failliss de surséanc van betal de schuldsaneringsregel natuurlijk personen österreich da konkursverfahren da ausgleichsverfahren portug processo de falência os processo especiai de recuperação de empresa ou seja concordata reconstituição empresari reestruturação financeira gestão controlada suomi finland konkurssi konkur yrityssaneerau företagssan sverig konkur företagsrekonstrukt unit kingdom wind subject supervis court creditor voluntari wind confirm court administr voluntari arrang insolv legisl bankruptci sequestr annex wind proceed refer articl belgië belgiqu het failliss la faillit deutschland da konkursverfahren da gesamtvollstreckungsverfahren da insolvenzverfahren españa concurso de acreedor quiebra suspensión de pago basada en la insolvencia definitiva franc liquid judiciair ireland compulsori wind bankruptci administr bankruptci estat person dy insolv wind bankruptci partnership creditor voluntari wind confirm court arrang control court involv vest part properti debtor offici assigne realis distribut italia fallimento liquidazion coatta amministrativa luxembourg faillit régime spécial de liquid du notariat nederland het failliss de schuldsaneringsregel natuurlijk personen österreich da konkursverfahren portug processo de falência suomi finland konkurssi konkur sverig konkur unit kingdom wind subject supervis court creditor voluntari wind confirm court bankruptci sequestr annex liquid refer articl belgië belgiqu de curat le curateur de commissari inzak opschort le commissair au sursi de schuldbemiddelaar le médiateur de dett deutschland konkursverwalt vergleichsverwalt sachwalt nach der vergleichsordnung verwalt insolvenzverwalt sachwalt nach der insolvenzordnung treuhänder vorläufig insolvenzverwalt españa depositario administrador interventor interventor síndico comisario franc représent de créancier mandatair liquidateur administrateur judiciair commissair exécut de plan ireland liquid offici assigne truste bankruptci provision liquid examin italia curator commissario luxembourg le curateur le commissair le liquidateur le conseil de géranc de la section assainiss du notariat nederland de curat het failliss de bewindvoerd de surséanc van betal de bewindvoerd de schuldsaneringsregel natuurlijk personen österreich masseverwalt ausgleichsverwalt sachwalt treuhänder besonder verwalt vorläufig verwalt konkursgericht portug gestor judici liquidatário judici comissão de credor suomi finland pesänhoitaja boförvaltar selvittäjä utredar sverig förvaltar god man rekonstruktör unit kingdom liquid supervisor voluntari arrang administr offici receiv truste judici factor