Originally posted on 18 Dec 2013

A key European Parliament committee has supported a European Commission proposal to modernise Europe’s rules on cross-border business insolvency, helping to give otherwise viable businesses a ‘second chance’. The Legal Affairs Committee (JURI) voted by 20 votes in favour, 1 against and 3 abstentions to back the Commission’s proposal which will throw businesses hit by the economic crisis a lifeline.The proposed modernisation of the EU’s Insolvency rules – the Regulation in force at present dates from 2000 – is a key first step to bringing EU insolvency law into the 21st century (IP/12/1354, MEMO/12/969). The new rules which were proposed by the Commission in December 2012 will shift the focus away from liquidation towards a new approach helping businesses overcome financial difficulties, while at the same time protecting creditors’ rights to get their money back.Read the full article at Bizezia News here.

Martin Pollins

Managing Director at One Smart Place
Martin Pollins is a Chartered Accountant and MBA with wide experience in corporate finance and business management. He has served on the boards of several companies, including those listed on the London Stock Exchange, AIM and OFEX. He is Chairman and Founder of OneSmartPlace and was a Council member of the Institute of Chartered Accountants in England and Wales from 1988 to 1996. He was managing partner of PRB Martin Pollins, based in Sussex, the first Accountancy firm to advertise on British television.He went on to create and launch the CharterGroup Partnership (the UK’s first Accountancy network) and then LawGroup UK (at the time, one of the largest networks of lawyers in the UK). In recent years, he helped to raise several £millions to fund British films such as The Da Vinci Code, Bridge of San Luis Rey, Head in the Clouds and Merchant of Venice with actors such as Charlize Theron, Robert De Niro, Al Pacino, F. Murray Abraham. Kathy Bates, Gabriel Byrne, Geraldine Chaplin, Tom Hanks, Ian McKellen, Audrey Tautou, Penélope Cruz, Steven Berkoff, Lynn Collins, Jeremy Irons, Joseph Fiennes and many more.

He has written over 700 business publications (see Glossaries at http://onesmartplace.com/resources/glossaries/) and is editor of Better Business Focus (see http://onesmartplace.com/resources/better-business-focus-magazine). His Blog, on a wide range of subjects can be found at: http://onesmartplace.com/blog/
Martin Pollins

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