(b)where the economic operator is bankrupt or is the subject of insolvency or winding-up proceedings, where its assets are being administered by a liquidator or by the court, where it is in an arrangement with creditors, where its business activities are suspended or it is in any analogous situation arising from a similar procedure under national laws and regulations; the contracting authority or the contracting entity may, however, decide not to exclude or be required by the Member State not to so exclude an economic operator which is in one of the above situations where it has established that the economic operator in question will be ...[+++] able to perform the concession, taking into account the applicable national rules and measures on the continuation of business in the case of those situations.

where the economic operator is bankrupt or is the subject of insolvency or winding-up proceedings, where its assets are being administered by a liquidator or by the court, where it is in an arrangement with creditors, where its business activities are suspended or it is in any analogous situation arising from a similar procedure under national laws and regulations; the contracting authority or the contracting entity may, however, decide not to exclude or be required by the Member State not to so exclude an economic operator which is in one of the above situations where it has established that the economic operator in question will be ab ...[+++]le to perform the concession, taking into account the applicable national rules and measures on the continuation of business in the case of those situations.

(a)the economic operator is bankrupt, subject to insolvency or winding-up procedures, where its assets are being administered by a liquidator or by a court, where it is in an arrangement with creditors, where its business activities are suspended, or where it is in any analogous situation arising from a similar procedure provided for under national laws or regulations.

Importantly, although OSFI can work to reduce the risk that a financial institution will fail, the legislation also states that boards of directors are responsible for management of institutions, financial institutions carry on business in a competitive environment that necessitates that they manage risk, and financial institutions can experience financial difficulties that can lead to their failure.

Determining the success or failure of a litigation, contesting the administration of the bankrupt estate, the causes which result in a bankruptcy, the fairness of assessing the claims properly and the priority of creditors are all related to the work of the trustee who is in charge of a particular bankruptcy.

- State aid No 125/94 - Special administration of firms made insolvent through having to reimburse aid ruled incompatible with the common market - Italy The Commission has decided to initiate proceedings under Article 93(2) of the EC Treaty in respect of Italian Law No 80/1993, which provides for firms made insolvent, through having to reimburse aid ruled incompatible with the common market by the Commission or the Court of Justice, to be placed under special administration, with bankruptcy proceedings against them being suspended and their debts guaranteed by the State.