Restructuring an international group of companies in Europe continues to be challenging. While companies can transact business freely across European borders, coordination between the stakeholders involved in a cross-border restructuring has proved to be difficult. The cross-border restructuring of a corporate group is often complicated by a multitude of individual liquidation proceedings spread throughout the various countries in which the group is active. This is often the result of differing legislation enacted by various EU Member States in which debtors may be active; conflicting interests between debtors and/or court-appointed “insolvency practitioners” (generally, accountants licensed to render services in connection w…
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