The European Commission has launched a public consultation to improve the efficiency and effectiveness of insolvency frameworks in the European Union.

The consultation, which will run until 14 June, will have a particular focus on identifying rules that support businesses during times of temporary distress, from restructuring debt to managing recovery.

Insolvency frameworks are intended to support business investment and growth across the EU and help companies and individuals to do business across the EU single market, or invest from outside the EU. 

Věra Jourová, EU justice commissioner said: "...