commiss opinion decemb draft convent bankruptci wind arrang composit similar proceed eec agreement council commiss draft convent bankruptci wind arrang composit similar proceed drawn work parti compos expert member state commiss european commun supplementari convent sign brussel septemb jurisdict enforc judgment civil commerci matter quot gener convent quot convent date octob denmark ireland unit kingdom great britain northern ireland acced gener convent gener convent expressli exclud bankruptci wind arrang composit analog proceed scope applic articl point paragraph draft convent base articl eec treati version draft prepar long ago forward govern member state opinion member state acceed commun work parti enlarg work began present draft result labour quot draft bankruptci convent quot call transmit presid council june govern member state commiss requir give opinion draft bankruptci convent appli bankruptci wind proceed properli call lead cessat debtor trade activ distribut realiz asset creditor proceed object avoid declar bankruptci wind permit debtor rehabilit purpos draft improv posit creditor common market achiev object decis contract state open proceed text appli effect ipso jure contract state debtor properti european commun immedi attach longer power dispos bankruptci take effect vi vi parti eighth dai public decis offici journal european commun contract state bankruptci open bankruptci wind arang composit similar proceed commenc similarli individu proceed debtor longer commenc begun suspend order appli principl uniti univers bankruptci present opinion word quot bankruptci quot cover proceed draft convent appli avoid duplic proceed lai inter alia uniform rule regul intern jurisdict court draft stipul court jurisdict open bankruptci contract state debtor centr administr situat centr administr situat commun court jurisdict contract state debtor establish intern law state bankruptci open determin procedur rule effect bankruptci includ effect parti basic rule lex fori appli subject except provid special rule conflict law set draft promin rule determin effect bankruptci properti subject registr right subject registr contract employ contract sale immov properti conflict rule draft deal subject matter extent rank secur right special right prefer draft bankruptci convent provis cover interpret court justic final provis similar gener convent enter forc ratifi contract state place alongsid commun convent supplement gener convent mention turn supplement fail resolv problem relat oj pp seq oj pp seq applic law convent june law applic contractu oblig ii draft exclud scope bankruptci wind insur undertak time direct harmon nation law subject enter forc direct provid articl direct insur undertak indemn insur life assur exclud time author withdrawn ground insolv special proceed institut administr natur design avoid bankruptci primarili view afford uniform protect insur creditor commiss hope submit relev propos direct council futur order instrument coordin advantag hand draft convent exclud scope bankruptci credit institut subject control public author author procedur withdraw author case entail institut proceed similar bankruptci public author member state measur safeguard interest depositor object pursu propos direct prepar commiss seek coordin role plai bank supervisori author detail rule cooper appli measur circumst view similar sector solut similar adopt insur undertak adopt credit institut articl expand insert fourth paragraph quot convent appli credit institut direct coordin role bank supervisori author proceed refer articl protocol cooper implement measur safeguard interest creditor credit institut effect quot matter relat wind credit institut area commiss freedom action futur preserv reason articl convent june law applic contractu oblig provis adopt quot convent affect applic provis contain act institut european commun nation law harmon implement act quot draft bankruptci convent includ scope compulsori wind proceed ireland unit kingdom problem aris connect gener convent english languag text consolid version date octob exclud scope quot proceed relat wind insolv compani legal person quot gener convent continu appli compulsori wind proceed rare case institut ground insolv reason present version draft bankruptci convent protocol draft articl differenti circumst proceed open includ articl protocol amend order prevent misunderstand aris account exist conflict provis articl case ireland unit kingdom compulsori wind proceed refer limit case insolv essenti articl gener convent quot convent affect convent contract state parti relat matter govern jurisdict recognit enforc judgment quot bankruptci convent light provis regard lex speciali vi vi gener convent appli form compulsori wind whilst interest central exclus jurisdict court state bankruptci open extend jurisdict appli inter alia action liabil incur consequ direct manag person direct manag affair firm compani legal person declar bankrupt articl judgment deliv matter recogn enforc contract state arrang applic judgment bankruptci quot special procedur requir quot articl oj articl recogn enforc accord rule gener convent remov doubt convent appli recognit enforc judgment deliv result action make good defici action en comblement de passif provid articl french law juli question action constitut quot analog proceed quot exclud articl paragraph point scope gener convent commiss take view judgment case cover bankruptci law mean draft convent aris action primari aim establish person direct manag affair firm compani liabl damag suffer action applic open bankruptci wind arrang composit analog proceed view satisfi creditor collect fact action file court jurisdict adjud bankruptci firm compani understand point view procedur alter legal natur applic burden proof revers advertis bankruptci commun respons liquid undertak public offici journal european commun judgment open bankruptci decis articl draft convent pai cost print translat advertis decis question affect gener bodi creditor cost incur born liquid permit law state bankruptci open permit articl convent state law contract state provid possibl liquid liquid oblig realis asset contract state distribut proce preferenti creditor accord section vi titl iv compli regul state concern call colleagu experi nation regul order avoid misunderstand draft convent state liquid empow act countri case debtor asset situat provid law state permit oper territori civil commerci matter creditor respect debt aros open bankruptci employe entitl relat asset situat contract state right prefer right gener bodi creditor law state attach debt hand public author govern depart public agenc entitl state prefer debt aros open bankruptci matter taxat social secur draft convent leav unresolv question tax similar debt aris bankruptci debt gener bodi creditor satisfi asset situat contract state asset situat state articl consist treat debt gener bodi creditor incur view continu busi debtor benefit gener bodi creditor proceed avoid bankruptci draft convent appli extens time payment compound debt grant debtor articl contract state proceed open measur invalid creditor respect debt incur behalf gener bodi creditor preferenti creditor creditor debt secur charg properti provis constitut except principl uniti univers bankruptci hand equal creditor argument proceed case bankruptci proceed stricto sensu prevent proceed justifi except contrari argument favour appli principl contribut avoid bankruptci proceed oper benefit creditor articl delet contrari view court justic judgment februari case gourdain nadler ecr articl draft convent make provis interpret court justic european commun contrast posit gener convent jurisdict court provid text draft convent separ protocol draft convent provis similar protocol june notabl refer preliminari rule refer order clarifi law procedur refer question preliminari rule deriv articl treati differ respect court empow refer question court expressli design court instanc exclud suprem court requir refer matter preliminari rule question interpret commiss regret lack align articl eec treati accept argument put forward support except contain protocol june prevent court justic overburden refer avoid increas number proceed institut gain time extent valid case draft bankruptci convent happen bankruptci proceed question interpret touch bankruptci convent gener convent case relat action aris bankruptci problem jurisdict resolv refer bankruptci convent problem recognit enforc resolv gener convent reason convent interpret basi ident provis annex draft bankruptci convent uniform rule deal proof spous claim properti articl set articl question claus reserv titl valid creditor buyer articl uniform law conjunct articl draft articl embodi draft convent provis design standard nation law articl articl superflu requir state incorpor uniform law legisl draft convent number variant provis recognit simpl reserv titl claus event bankruptci buyer articl conjunct articl uniform law annex reserv titl form import legal instrument ensur seller receiv payment circumst reserv titl effect vi vi creditor buyer intra commun trade case case buyer declar bankrupt reason direct extens rule articl prefer draft convent confin requir contract state recogn simpl reserv titl claus relat object sold guarante payment price event bankruptci buyer provid claus stipul deliveri paragraph joint declar annex draft convent refer remov discrep exist bankruptci convent convent previous enter member state paragraph declar stress organ cooper court justic exchang inform judgment court contract state commiss believ step convent implement effect bracket surround provis remov iii work unifi bankruptci proceed begun draft convent support harmon rule requir open bankruptci align question bankruptci open depend centr administr situat contract state appli reorgan procedur establish recent year situat protocol june confer jurisdict court justic interpret convent septemb jurisdict enforc judgment civil commerci matter oj report jenard protocol oj pp creditor employe run risk treat differ depend state procedur open major differ law member state durat suspect period period prior open bankruptci act debtor held void execut legal system suspect period commenc cessat payment establish court respect bankruptci legal system fix suspect period act debtor uniformli calcul durat backward date open bankruptci calcul durat suspect period establish act debtor void declar void affect amount asset gener bodi creditor amount distribut creditor articl state law state bankruptci open determin procedur contract state creditor affect financi differ legal system nation provis govern suspect period harmon ensur creditor treat equal foot surpris sprung case debtor centr administr commun establish member state quot forum shop quot elimin iv basi forego consider commiss regard treati establish european econom commun indent articl thereof formul opinion commiss consid pursuanc fourth indent articl treati establish european econom commun member state sign ratifi earliest opportun convent bankruptci wind arrang composit similar proceed emphasis convent permit creditor employe attach mean singl proceed debtor properti situat member state desir commiss consid delet articl restrict effect extens time grant payment compound debt reorgan procedur point hereof delet articl contain uniform law incorpor draft convent delet part articl articl incorpor nation legisl point hereof remov bracket joint declar point hereof commiss consid amend made articl ad fourth paragraph suspend applic convent credit institut council direct role bank supervisori author take effect point hereof articl contract state make provis liquid point hereof articl attach protocol narrow refer compulsori wind proceed ireland unit kingdom point hereof commiss consid solut adopt variant contain draft convent insert articl provis limit recognit quot simpl quot reserv titl claus stipul deliveri point hereof articl provis made effect fiscal similar debt aris open bankruptci satisfi properti situat contract state point hereof commiss consid judgment relat liabil person direct manag affair firm compani respect bankruptci open refer articl recogn enforc accord gener convent point hereof cost advertis offici journal european commun refer articl born gener bodi creditor point hereof lastli commiss consid desir insert articl confirm subsequ commun law preced convent point hereof opinion address member state brussel decemb commiss karl heinz narj member commiss