Important Measures from EU member States
The global impact of the COVID-19 pandemic is indiscribable. All fields of the global economy are being affected and consequently the management and the businesses of the companies in which European Insolvency Practitioners are involved and act. We, as European IP, have to apply and to implement
all the new rules and procedures that have just been enacted.
EIP Association aims, thought this section, to keep you informed about all the EU measures affecting directly or indirectly the companies, taken at Members States and EU level .
The World Bank and IFC (International Finance Corporation) approved last 17th of March an increased $14 billion package of fast-track financing to help governments and companies in their efforts to prevent, detect and respond to Covid-19 Crisis. The package is aimed to reinforce the diverse national systems for public health.
The obligation to file for insolvency, which applies for the management of corporations, is suspended until 30 September 2020, if illiquidity was caused by the pandemic.