EU JudgeCo Principle 4 - Aim

4.1. The aim of these EU JudgeCo Principles is to facilitate the coordination of the administration of international insolvency cases involving the same debtor, including where appropriate through the use of a protocol.

4.2. These Principles aim to promote in particular:

  1. The orderly, effective, efficient and timely administration of proceedings;
  2. The identification, preservation and maximisation of the value of the debtor’s assets, including the debtor’s business, on a global basis;
  3. The sharing of information in order to reduce costs; and
  4. The avoidance or minimisation of litigation, costs and inconvenience to the parties in the proceedings.

4.3. These Principles aim to promote in each separate international insolvency case its administration with a view to:

  1. Ensuring that creditors’ interests are respected and that creditors are treated equally;
  2. Saving expense and reducing costs;
  3. Managing the debtor’s estate in ways that are proportionate to the amount of money involved, the nature of the case, the complexity of the issues, the number of creditors and to the number of jurisdictions involved; and
  4. Ensuring that the case is dealt with effectively, efficiently and timely.