In the context of liquidation in insolvency proceedings, national insolvency laws should allow for the realisation of the assets of a business through the sale of the business, or part thereof, as a going concern. For the purposes of this Directive, sale as a going concern is understood as the transfer of a business, in whole or in part, to an acquirer in such a way that that business, or a sufficiently significant part thereof, can continue to operate as an economically productive unit. It is not understood to include the sale of the assets of the business piece by piece (piecemeal liquidation).
Text as published in the Official Journal, reproduced verbatim (including any typographical quirks of the source). For the authentic version, see EUR-Lex.
