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Politics
13 March 2023

Briefing - Harmonising certain aspects of insolvency law in the EU - PE 745.671 - Committee on Legal Affairs - Committee on Economic and Monetary Affairs

On 7 December 2022, the Commission tabled a proposal for a directive aimed at enhancing and harmonising insolvency law in the EU. The proposal seeks to make it easier to recover assets from the liquidated insolvency estate; render insolvency proceedings more efficient; and ensure a predictable and fair distribution of recovered value among creditors. The directive would complement two recently adopted pieces of legislation, namely, the directive on pre-insolvency proceedings and debt discharge following insolvency proceedings, and the regulation on the determination of jurisdiction and applicable law for cross-border insolvency. In the European Parliament, the referral was announced in plenary on 26 January 2023, and the file was assigned to the Committee on Legal Affairs (JURI). Parliament has expressed concern at the lack of harmonisation of insolvency law across the EU on several occasions in the framework of previous legislative procedures. First edition. The 'EU Legislation in Progress' briefings are updated at key stages throughout the legislative procedure.Source : © European Union, 2023 - EP