EC cross-border insolvency regulation tax horizon - watch the present, it is not what it was!

Council Regulation (EC) No. 1346/2000 of 29 May 2000 on insolvency proceedings (hereinafter: the Regulation) came into force in all Member States except Denmark on 31 May 2002. As it is inherently an instrument regulating the operation of the Single Market, it has been seen as the culmination of almost 40 years of efforts regarding insolvency and bankruptcy. This article assesses the Regulation's effect on the domestic legal rules for foreign tax claims regarding insolvency.