The issue related to harmonisation of law could be illustrated by referring to the following quote from the famous French geographer Daniel Faucher: “Europe is too big to be united. But too small to be divided. Her double destiny lies there”.
As regards the issue of harmonisation of European insolvency law, and more specifically, harmonisation of the regulation of those who mainly apply insolvency law across the European Union – the insolvency practitioners according to the European terminology – the question is to assess whether harmonisation of regulation of insolvency practitioners at European Union level is worthwhile and achievable.
Indeed, the insolvency practitioners are a key part of an effective insolvency system. As the Austrian Professor Ernst Jaeger underlined: “the choice of
the insolvency practitioner is the fateful question of the insolvency proceedings”.
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