EU Late payment reforms to be scrapped

The European Commission is reportedly set to scrap a controversial overhaul of EU late payment rules after a lack of support from several EU member states.
The Commission proposed in September last year to limit all payment terms to a maximum of 30 days, prompting warnings from trade bodies that the reforms could make it unviable for banks to support supply chain finance facilities and increase costs for SMEs. 
An amended version of the text was adopted by the Europ