Resolution on the Convention on Insolvency Proceedings of 23 November 1995
Date: 1999-05-07
Institutions: Committee on Legal Affairs, European Parliament
Subjects: bankruptcy, payment, suspension of payments, type of business













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51999IP0234(01)

Resolution on the Convention on Insolvency Proceedings of 23 November 1995  


Official Journal C 279 , 01/10/1999 P. 0499 





A4-0234/99Resolution on the Convention on Insolvency Proceedings of 23 November 1995The European Parliament,- having regard to the Convention on Insolvency Proceedings of 23 November 1995 ((Council Document CONV/INSOL/X1)),- having regard to the findings of the hearing held by the Committee on Legal Affairs and Citizens' Rights on 15 April 1998,- having regard to Rule 148 of its Rules of Procedure,- having regard to its request made in paragraph 36 of its resolution of 16 December 1998 on the Commission's work programme for the year 1999 that the Commission submit a proposal for a directive on bankruptcies involving companies which operate in several Member States ((OJ C 98, 9.4.1999, p. 163.)),- having regard to the report of the Committee on Legal Affairs and Citizens' Rights (A4-0234/99),A. whereas the deadline for the signing of the Convention on Insolvency Proceedings has passed with one Member State not having signed; whereas the Convention cannot therefore enter into force unless it is amended by unanimous accord,B. whereas this stalemate has been caused by the fact that one Member State has refused to sign the Convention, despite having accepted it,C. whereas all the Member States agree that the absence of rules on insolvency proceedings in the Community is a deficiency with respect to the completion of the internal market,D. whereas bankruptcies, compositions and similar proceedings were excluded from the scope of the Convention on jurisdiction and the enforcement of judgments in civil and commercial matters signed in Brussels on 27 September 1968 ((Consolidated version, OJ C 27, 26.1.1998, p. 1.)),E. whereas between 1963 and 1980 a committee of experts in the Commission examined a first draft Convention and - after the enlargement of the Community beginning in 1973 - a second draft Convention, which provided for a single procedure to be recognised in the other Contracting States and precluded the simultaneous opening of domestic proceedings in these other States (principles of 'unity' and 'universality'),F. whereas the Council suspended its deliberations of these drafts in 1985 in the absence of sufficient agreement,G. whereas the European Convention on certain international aspects of bankruptcy negotiated within the Council of Europe and deposited for signature on 5 June 1990 in Istanbul has not entered into force, since not enough States have ratified it,H. whereas a set of rules to be established in the Community on the model of the Insolvency Convention should as far as possible provide for simple and flexible solutions and be based on the principle of the universality of proceedings, which principle is, however, restricted by the possibility of secondary insolvency proceedings being opened in one or more instances, although their effects remain confined to the territory of the Member State concerned,I. whereas Article 65 of the EC Treaty provides for the elimination of 'obstacles to the proper functioning of civil proceedings, if necessary by promoting the compatibility of the rules on civil procedure applicable in the Member States' in the field of judicial cooperation in civil matters having cross-border implications; whereas during a transitional period of five years following the entry into force of the Amsterdam Treaty, the Council, acting unanimously, may enact legislation pursuant to Article 67 of the Treaty, on a proposal from the Commission or on the initiative of a Member State and after consulting the European Parliament, and whereas these new provisions cover the subject matter governed by the Insolvency Convention,J. whereas this opportunity should be seized, if possible, before the end of the current Council Presidency,1. Calls on the Commission to put forward a proposal for a directive or a regulation on bankruptcies involving companies which operate in several Member States;2. Instructs its President to forward this resolution to the Commission, the Council and the governments of the Member States.