Received: 01 Jan 1970
Accepted: 01 Jan 1970
PREPORUKA KOMISIJE O NOVOM PRISTUPU STEČAJU I NESOLVENTNOSTI (2014/135/EU)
Dimitrijević Duško (Институт за међународну политику и привреду, Београд), dimitrijevicd@ diplomacy.bg.ac.rs
A market operation in the European Union assumes smooth cross-border business of all business entities. In this regard, the European single market regulates the conditions relating to the regulation of the legal consequences of termination of business entities in the financial situations that hinder their business. In order to harmonize bankruptcy law and achieving cooperation and unification of bankruptcy proceedings against legal entities whose business is related to foreign countries, the European Union first had adopted the Council Regulation 1346/2000 of 29 May 2000 on insolvency proceedings, and then after fourteen years of its implementation has brought the Commission Recommendation 2014/135/EU of 12 March 2014 on a new approach to business failure and insolvency. This Recommendation contains a series of principles of bankruptcy proceedings for the operations of business entities in financial difficulties. The Commission suggests to states to promote sustainable measures for restructuring companies at an early stage in order to prevent bankruptcy. The Commission believes that harmonization of insolvency law can contribute to the sustainability of companies and also the protection of creditors\' claims.
Keywords: bankruptcy, the European Union, business entities, insolvency law