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Principles of European Insolvency Law looks to a future of more European integration in areas of commercial law and practice. They may serve as working material for further study, which could result in proposals for legislation on a supranational level. In the shorter term, the Principles will be of use in efforts to modernise national insolvency laws by serving as a "European framework".
Taking account of the Principles in drafting reform proposals can lead to a greater conformity of new national legislation with the essence of European Insolvency Law.