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​EU Directive on preventive restructuring frameworks: now adopted

On 6 June 2019 the European Council formally adopted the directive on preventive restructuring frameworks, on discharge of debt and disqualifications, and on measures to increase the efficiency of procedures…

INSOL Europe holds panel at the III International Insolvency Forum Conference, 15-17 May 2019, St. Petersburg

Report by Emma Inacio, INSOL Europe Technical Officer We are delighted to announce that INSOL Europe was invited to hold a panel at the III International Insolvency Forum which took place during the Annual…

Annual Congress 2019 - Copenhagen - Registration now open!

We are delighted to announce that registration for our Annual Congress in Copenhagen, Denmark, from 26-29 September 2019 is now open. 

INSOL International’s Foundation Certificate in International Insolvency Law

INSOL International is in the process of launching its new Foundation Certificate in International Insolvency Law, which commences on 1 September 2019. Enrolments on the course open on 1 March 2019.  …

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​EU Directive on preventive restructuring frameworks: now adopted
On 6 June 2019 the European Council formally adopted the directive on preventive restructuring frameworks, on discharge of debt and disqualifications, and on measures to increase the efficiency of procedures concerning restructuring, insolvency and discharge of debt, and amending Directive (EU) 2017/1132 (directive on preventive restructuring frameworks). 

The formal vote of the European Council marks the end of the legislative procedure after the Directive Proposal was adopted by the European Commission on 22 November 2016. The directive on preventive restructuring frameworks will now be formally signed and enter into force on the twentieth day following its publication in the Official Journal of the European Union. The Member States will then be required to transpose the directive’s provisions into their respective legal systems within two years of its entering into force at the EU level. Member States that encounter particular difficulties in implementing this Directive will be able to benefit from an extension of a maximum of one year.
 
The directive on preventive restructuring frameworks provides a high degree of flexibility to Member States to adapt the new legislation to their existing frameworks. It is hoped that Member States will not sacrifice the rescue culture, a key driver behind the directive, by choosing to implement the minimum standards proposed in the directive.
 
Please consult the text of the directive here: https://data.consilium.europa.eu/doc/document/PE-93-2018-INIT/en/pdf