Though affecting enterprises of all sizes, a particular concern is paid in the text to the situation of small- and medium-enterprises, which constitute the lifeblood of European commerce. In the wake of the 2014 Recommendation, which this text is designed to boost, attention will undoubtedly now be paid to how the various Member States respond to the call for the institution of new frameworks or the overhaul of existing legislation so as to improve the chances of businesses in financial difficulties. However, interest in the text should go beyond the preventive restructuring and second chance measures it promotes. Included in Title IV of the Draft Directive are proposals aimed at addressing perceived lacunae in support structures for restructuring (as well as other insolvency procedures!) across the European Union, chiefly associated with the qualification and training of insolvency professionals and the support for restructuring measures through the courts.
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