Chapter 3: The European Insolvency Regulation: from inception to legislation
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The next three chapters (3-5) of this monograph explore the development of coordination procedures in cross-border insolvency and restructuring processes in the EU. It traces the development of the European Insolvency Regulation 1346/2000 and its Recast 2105/848 along with EU case law that has developed key concepts in cross-border insolvency coordination. These chapters also explore the introduction of the specific obligation to cooperate under the EIR Recast. Chapter 3 begins the first doctrinal part of this monograph by examining the approach that the EU has taken to the procedural coordination of cross-border insolvency and analyses how this approach reflects the process of European integration, sharing as it does similar challenges and obstacles to the broader policy goals in this area. It explores the legislative development of the EIR, highlighting the challenges present in the institutional negotiation phases within the EU providing an interesting example of the competing values and policies that tend to keep Member States separate rather than encouraging greater unity and an ‘ever closer union'.

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