ABSTRACT
This chapter focuses on the rescue of viable business in cross-border insolvency cases. It explains the social and economic relevance of the rescue of business for the internal EU market and suggests that insolvency proceedings should provide mechanisms to enhance possibilities to restructure and avoid liquidation. It argues that the possibilities of the rescue of business in cross-border insolvency proceedings depend heavily on the proper cooperation between the courts and insolvency practitioners. This chapter also explains that the instruments of preventive restructuring in the Restructuring Directive should enjoy the rules of the EIR in cross-border restructuring cases and that the scope of the application of the Restructuring Directive and the EIR is compatible and that both legal instruments should be interpreted and applied in a harmonious way.
