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European Countries Recently Updated Their Bankruptcy Laws Based on the U. S. Bankruptcy Code
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Bankruptcy Law Revisions

European Countries Recently Updated Their Bankruptcy Laws Based on the U. S. Bankruptcy Code

The Wall Street Journalin its April 6-7, 2013 issue reported that multiple European countries recently updated their bankruptcy laws with business bankruptcy law revisions modeled on American Chapter 11 bankruptcy.  According to the article by Deborah Ball, the recent mass of financially troubled businesses in European countries drew attention to the shortcomings of the bankruptcy laws in those countries.  Ball cited reports that in 2012 in Italy 100,000 businesses closed.