How do the EU Member States’ insolvency frameworks currently perform?
The 2015 World Bank Doing Business Report ranks countries according to the efficiency of their insolvency frameworks on a scale of 0-16. The EU average is 11.6, which is 5% below the OECD average for high income countries (12.2).
The efficiency of insolvency frameworks varies widely across EU Member States: some score below 8 in this report. World Bank indicators suggest that recovery rates vary between 30 % and 90% in the EU. Recovery rates are higher in economies where restructuring is the most common insolvency proceeding: in such economies creditors can expect to recover 83% of their claims, against an average of 57 % in liquidation procedures. The length o…
Read the full article at: http://europa.eu/rapid/press-release_MEMO-16-3803_en.htm