Harmonising Certain Aspects Of Insolvency Law

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Considerations on COM (2022)702 – Proposal for a directive harmonising certain aspects of insolvency law – Main contents iers to the free flow of capital in the EU by harmonising certain aspects of Member States’ insolvency laws. These are avoidance actions, tracing assets, pre-pack proceedings, director’s duty to file for insolvency, wi

More harmonisation of insolvency laws is on its way across Europe

Arbitrability of Insolvency Disputes – Harmonising the Conflicting ...

This is reflected in the adoption in 2019 of the Restructuring and Insolvency Directive, which was supplemented, on 7 December 2022, by the publication of a new proposal for a directive aimed at harmonising and improving certain aspects of insolvency law (timeframes, amounts recovered, fairness and predictability of procedures). they satisfy the eligibility criteria applicable to insolvency practitioners in the Member State where the pre-pack proceedings mechanism are openedis used; can be appointed as monitor.

You can also revisit our previous briefings „EU proposal for a directive of the European Parliament and of the Council harmonising certain aspects of insolvency law“ (December 2024) and „More harmonisation of insolvency laws is on its way across Europe“ (December 2022), for insights into the original proposals. On 7 December 2022, the European Commission published its proposal for a directive of the European Parliament and of the Council harmonising certain aspects of insolvency law (COM (2022) 702; 2022/0408 (COD)) (the Proposal).

In a bid to reinforce the Capital Markets Union (the “ CMU ”), on the 7 th December 2022 the European Commission unveiled the “Proposal for a Directive Of The European Parliament And Of The Council harmonising certain aspects of insolvency law” [1] (the “ Proposed Directive ”). This initiative aligns with the Commission’s strategic objective of Furthermore, in 2022, the Commission tabled a proposal for a directive harmonising certain aspects of insolvency law. The objective of the proposal is to enhance and support the ‚convergence’6 of insolvency proceedings for (i) the optimal recovery of assets, (ii) the efficiency of proceedings, and (iii) the predictable and fair distribution of Proposal for a DIRECTIVE OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL harmonising certain aspects of insolvency law ST 15896 2022 INIT Expand all Collapse all

harmonising certain aspects of insolvency law (Text with EEA relevance) THE EUROPEAN PARLIAMENT AND THE COUNCIL OF THE EUROPEAN UNION, Having regard to the Treaty on the Functioning of the European Union, and in particular Article 114 thereof, Having regard to the proposal from the European Commission, As such this proposal for harmonising certain aspects of insolvency law forms part of the wider EU Capital Markets Union initiative announced in 2020, which is a key project designed to further financial and economic integration across the EU.In this briefing we look at some of the highlights of the proposed reforms as drafted at present. On 7 December 2022, the European Commission stepped forward again and published a Proposal for a Directive of the European Parliament and the Council harmonising certain aspects of insolvency law (the Insolvency Law Proposal).

On 28 November 2023 the ECON opinion for the Committee on Legal Affairs (JURI) on the proposal for a directive of the European Parliament and of the Council harmonising certain aspects of insolvency law was voted and adopted. Nevertheless, it has formally lapsed with the start of the new mandate and the Conference of Presidents has confirmed that ECON is still Harmonising certain aspects of insolvency law 2022/0408(COD) – 01/07/2025 – Committee report tabled for plenary, 1st reading/single reading The Committee on Legal Affairs adopted the report by Emil RADEV (EPP, BG) on the proposal for a directive of the European Parliament and of the Council harmonising certain aspects of insolvency law. 1. Introduction The Proposal for a Directive of the European Parliament and of the Council on the harmonisation of certain aspects of insolvency law, launched by the European Commission on 7 December 2022 (hereinafter „the Directive”) is, as stated in the Explanatory Memorandum of this legislative initiative, part of the European Commission’s line of action to promote the Capital

Proposal for a Directive of the European Parliament and of the Council harmonising certain aspects of insolvency law – Presidency compromise text on Title IV (13799/EU XXVIII.GP) By harmonising targeted aspects of insolvency laws, the proposal aims, in particular, to maximise the recovery of value from the insolvent company for creditors. More uniform insolvency laws should thus expand the choice of funding available to companies across the Union. Specific provisions of the proposal On 7 December the European Commission published its proposal for a directive seeking to level the playing field across the EU Member States in relation to certain aspects of insolvency law. The Proposal for a Directive of the European Parliament and of the Council harmonising certain aspects of insolvency law (2022/0408 (COD)) is seeking to converge insolvency rules, with the

Harmonisation of Insolvency Laws

LIMITE EN Council of the Euro
Considerations on COM 702
Fact sheet on insolvency proceedings
WP 20 Harmonisation of EU insolvency law

COM (2022)702 – Directive Proposal for a directive harmonising certain aspects of insolvency law – Main contents Contents Key information Key dates Related information Full version EU Monitor

Harmonisation of Insolvency Law at EU Level (2010) report prepared by an INSOL Europe panel of experts at the request of the European Parliament, Direcorate General For Internal Policies, Policy Department C : Citizens‘ Rights and Constitutional Affairs Comments on the European Commission’s Proposal harmonising certain aspects of insolvency law: Italy DIRECTIVE OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL harmonising certain aspects of insolvency law File number 2022/0408 ELRN Online WS March 8th 2023 The lack of harmonised insolvency regimes has long been identified as one of the key obstacles to the freedom of capital movement in the EU and to greater integration of the EU’s capital

On 15 September 2021, in her letter of intent 9 aaddressed to the Parliament and the Presidency of the Council, President Von der Leyen announced an initiative on harmonising certain aspects of substantive law on insolvency proceedings, which has been included in the 2022 Commission work programme 10. Proposal for a Directive harmonising certain aspects of insolvency law

The proposal for a Directive to harmonise certain aspects of insolvency law is an important piece of legislation for the Committee on Legal Affairs, with far-reaching implications for businesses, creditors, and investors across all Member States, making it essential to foster an informed legislative process. The hearing provides an important platform for stakeholders, including On 7 December 2022, the European Commission stepped forward again and published a Proposal for a Directive of the European Parliament and the Council harmonising certain aspects of insolvency law (the Insolvency Law Proposal).

WP 20 Harmonisation of EU insolvency law

I. INTRODUCTION On 7 December 2022, the Commission submitted to the Council and the European Parliament proposal for a Directive harmonising certain aspects of insolvency law1. The proposal for a Directive is one of the initiatives included in the 2020 Capital Markets Union (CMU) action plan. It aims to encourage cross border investment within the single market through a

2022/0408/COD Internal procedure Permanent link Download notice Save to My items Create an email alert Create an RSS alert Procedure 2022/0408/COD COM (2022) 702: Proposal for a DIRECTIVE OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL harmonising certain aspects of insolvency law The relative novelty of such pre-insolvency proceedings to a considerable number of national legal orders made this an adequate topic for a first step of harmonising substantive law in the broader area of insolvency law because of the reduced number and sensitivity of clashes with the long-established principles under national law. As a European independent and impartial think tank, CERIL has actively followed the development of the EC Proposal. CERIL presents a first empirical impression by its European-wide community assessing the benefits and shortcomings of the EC Proposal on harmonising certain aspects of insolvency law. Drawing on over 60 responses, mainly CERIL’s members as

On 7th December 2022, the European Commission proposed a Directive for the harmonisation of certain aspects of insolvency law. With the objective to foster financial and economic integration in the European Union, the proposal is part of the Commission´s priority to advance the Capital Markets Union (CMU). It also means that harmonisation of certain aspects of insolvency law may require considerable changes in some Member States.

On 13 December 2024, the European Council issued a press release announcing its position on the core Capital Markets Union (CMU) legislation, specifically aimed at harmonising certain aspects of insolvency laws across EU Member States.The harmonisation proposals are expected to have a positive impact on cross-border investment and ultimately reduce the cost of capital. DRAFT REPORT on the proposal for a directive of the European Parliament and of the Council harmonising certain aspects of insolvency law 20-03-2025 JURI_PR (2025)771863 PE771.863v01-00 JURI The lack of harmonised insolvency regimes has long been identified as one of the key obstacles to the freedom of capital movement in the EU and to greater integration of the EU’s capital markets. In 2015, the European Parliament, the Council, the Commission and the European Central Bank (ECB) jointly identified insolvency law as a key area for achieving a ‘true’ CMU2.

Proposal for a Directive harmonising certain aspects of insolvency law (COM(2022) 702 final) Opinion from German Social Insurance issued 17 March 2023 I. Preliminary remark On 7 December 2022, the European Commission published its proposal for a Directive on the harmonisation of certain aspects of insolvency law. On 7 December 2022, the European Commission published a proposal for a directive harmonising certain aspects of insolvency law in the EU1 that sets out minimum requirements in targeted areas of national formal insolvency proceedings which have a significant impact on the efficiency and length of such proceedings, especially on cross-border insolvency proceedings.

The European Commission published a draft Directive harmonising certain aspects of insolvency law, on 7 December. Status Quo: EU insolvency rules are currently fragmented along national lines, delivering differing outcomes with different degrees of efficiency – resulting in large divergences in recovery value for investments in insolvent companies across

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