EIP proposes five measures to improve the insolvency situation in European Union countries
· The European Insolvency Practitioners Association (EIP) shares the keys that Member States need to follow to alleviate the economic impact from the pandemic.
BRUSSELS, May 20, 2021 /PRNewswire/ The health crisis caused by COVID-19 has also brought about an economic crisis particularly concentrated around the tourism, hospitality, and retail sectors.
Despite the economic measures taken by institutions in Europe more specific measures regarding insolvency should be taken in the region. Although the European Commission, proposed on a first stage the Solvency Support Instrument - a mechanism with the aim of supporting otherwise viable companies in the Union that face solvency difficulties because of the coronavirus crisis.
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