Through early restructuring and second chance, the European Union has been concerned with a reality less understood in the economic environment. As a state of things, insolvency is an element of the economic circuit, an imperative marker for the efficiency, dynamics and purpose of the economic mechanisms. As an effect, the insolvency of failing companies is determined, alongside subjective causes, by objective causes as well, by an economic and financial context that places the debtor undertaking in an undesirable situation beyond its control. From this point of view, we must understand the EU’s efforts that insist on preventive mechanisms and on the possibility for the undertaking to return to the economic circuit.
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