regulation is required to deal with the source of systemic risk emerging from regulatory bankruptcy …Bankruptcy policy has long been founded upon the assumption that creditors seek to maximize the value of their assets … regulation and regulatory policy in ways that lead them to drive their own borrowers into liquidation - a phenomenon that richly …

enterprise. Things become even more complicated in insolvency proceedings, in particular in a cross-border context. The separate …

The European Parliament, after a lengthy debate, has eventually approved an Insolvency Regulation Recast, which amends … Regulation 1346/2000 on cross-border insolvency proceedings. The Recast provides for significant innovations of the original … logic of the Regulation, however, has not been changed: the Recast does not harmonise insolvency rules at EU level and its …