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  DEFINITION OF INSOLVENCY

  BORK, R. / VEDER, M. / SCHUIJLING, B.

  With its Proposal for a Directive harmonising certain aspects of insolvency law (2022/0408 (COD)), the European Commission is aiming to harmonise national insolvency laws. Terms such as “insolvency” or “inability to pay debts” are used, but have not yet been defined in EU law. However, harmonisation attempts cannot be successful without such definitions. It cannot be assumed th...

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