At the European Union level, the cross-border proceedings benefit under EU Regulation 848/2015 from a unitary framework who general declared purpose is to ensure the optimal functioning of the internal market. To this end, there are a series of rules and principles intended to prevent the transfer of assets or judicial proceedings from one member state to another in the attempt to obtain a more favorable legal situation to the detriment of the creditors’ list.

Insolvency that stems from the obligations assumed by a joint venture may concern any of the associates. Such proceeding, especially when it has an international dimension, requires a broader perspective on some of the requirements set forth by law with respect to the initiation and application of the proceeding.

The Joint Venture represents a judicial-economic mechanism intended to facilitate certain activities and operations which none of the associates, taken separately, would have the necessary weight and means to properly accomplish.