On March 23, 2016, the European Commission launched a consultation seeking views on key insolvency principles and standards which could ensure that national insolvency frameworks work in a cross-border context. The consultation is part of the Commission’s Capital Markets Union Action Plan which aims to remove barriers to the free flow of capital. Responses will be used to identify which aspects could be included in a legislative initiative or other related actions. It takes the form of various multiple choice questions and one open question, which seem to be aimed at initial framing of how this initiative should be taken forward. The consultation is open until June 14, 2016.
The consultation website is available at: http://ec.europa.eu/justice/newsroom/civil/opinion/160321_en.htm.