Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-11-15-Speech-2-434-206"
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"en.20111115.27.2-434-206"2
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"This report asks the Commission to come up with one or more legislative initiatives relating to an EU corporate insolvency framework. The S&D achieved two objectives: firstly, it adopted in the Committee on Legal Affairs technical amendments whereby we ask the Commission to come up with a clear definition of ‘COMI’ (centre of main interest) for groups of companies and, in relation to that, rules for a shift in COMI or substantive consolidation, in order to identify the legitimate jurisdiction for main and secondary proceedings. Secondly, it provided a bridge between Regulation (EC) No 1346/2000 and Directive 2008/94/EC on the protection of employees in the event of the insolvency of their employers. I totally support the report because in it, Parliament calls on the Commission to introduce a ranking of creditors that should give precedence to employees and set minimum standards of protection irrespective of different legal definitions for the categories concerned and substantive national laws."@en1
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