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Insolvency law switch to hit UK economy.

Publication: Sunday Business (London)
Date: Sunday, August 15 2004

Byline: Allister Heath

Aug. 15--Increased harmonisation of European Union (EU) bankruptcy codes is threatening to damage the competitiveness of the UK economy, research out this weekend warns.

Recent changes to the UK and French bankruptcy codes have brought them closer to the German system, according to a series of reports from Standard & Poor's. This is likely to have a damaging effect on the UK's leveraged buy-out market, which was worth UKpound 6.7 billion (E10 billion, $12.3 billion) in the year to the first quarter of 2004.

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Insolvency law switch to hit UK economy.

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