On Thursday 17 May, the Bulgarian Presidency of the Council of the EU published a compromise text on the draft directive establishing a single legal framework for tackling business insolvency (see EUROPE 11673).
Its objective: to reach a partial general approach during the European Justice Ministers' meeting on 4 June next.
To reach this objective, the Presidency, unsurprisingly, highlighted the need for flexibility and made a lot of effort to allow member states sufficient flexibility for...