Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-11-15-Speech-2-434-207"

Predicate	Value (sorted: default)
rdf:type	lpv_eu:Speech2
dcterms:Date	"2011-11-15"^^xsd:date2
dcterms:Is Part Of	lp_eu:Explanations of vote2
dcterms:Language	"pt"^^xsd:language2
lpv:document identification number	"en.20111115.27.2-434-207"2
lpv:hasSubsequent	lp_eu:2011-11-15-Speech-2-434-3462
lpv:speaker	lp:Nuno Melo2
lpv:spokenAs	member_of_the_bureau; EPP (2009-07-14--2014-06-30)3 member; LIBE (2009-07-16--2012-01-18)3 vice-chair; Delegation for relations with the Mercosur countries (2009-09-30--2014-06-30)3 substitute; Delegation for relations with the Palestinian Legislative Council (2009-09-16--2014-06-30)3 substitute; DROI (2009-07-16--2012-01-18)3 unknown; Partido Popular (2009-07-14--2014-06-30)3 substitute; ECON (2009-07-16--2012-01-18)3 member; Delegation to the Euro-Latin American Parliamentary Assembly (2009-09-16--2014-06-30)3
lpv:translated text	"Legislation on insolvency proceedings needs to be improved. In this climate of crisis, the number of insolvencies is ever increasing and there is a need to speed up proceedings. There were also loopholes in the old legislation that needed to be closed, not least as regards the insolvency of groups of companies. The Insolvency Regulation only applies to single companies and there is no legislation at EU level on the insolvency of groups of companies, despite groups being a very common form of business model in economic life. This omission has important negative consequences. It is important to be aware of the great variety of different group structures and relationships between companies belonging to the same group and, therefore, of the fact that the same solution cannot be applied to all kinds of groups, at least given the current state of insolvency laws in the Union. Ideally, the insolvency of groups of companies should be managed by a single court applying its own insolvency law. This solution facilitates coordination and the transmission of information, saves costs, maximises asset value, and facilitates recovery."@en1

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