{"id":46470,"date":"2025-01-06T07:57:51","date_gmt":"2025-01-06T07:57:51","guid":{"rendered":"https:\/\/my.legal500.com\/developments\/?post_type=press_releases&p=46470"},"modified":"2025-01-06T07:58:36","modified_gmt":"2025-01-06T07:58:36","slug":"amendments-to-new-ec-proposal-for-a-directive-harmonizing-certain-aspects-of-insolvency-law","status":"publish","type":"press_releases","link":"https:\/\/my.legal500.com\/developments\/press-releases\/amendments-to-new-ec-proposal-for-a-directive-harmonizing-certain-aspects-of-insolvency-law\/","title":{"rendered":"Amendments to new EC Proposal for a Directive harmonizing certain aspects of insolvency law"},"content":{"rendered":"

In December 2022, the European Commission presented a draft Proposal for a Directive of the European Parliament and of the Council harmonising certain aspects of insolvency law[1]<\/a>,<\/strong> opening discussions on some of the potential changes into national laws, together with the remarks and positions towards the Proposal.<\/p>\n

49 entities issued their positions (statements) within this legislative process, and now the European Commission analyses these documents, aiming to propose a Directive by the end of 2024.<\/p>\n

Recently, in December 2024, after analysis of these positions (statements), new, amended version was published[2]<\/a>.<\/p>\n

In the amended version, the Proposal covers:<\/p>\n

    \n
  1. Avoidance actions<\/li>\n
  2. Tracing assets<\/li>\n
  3. Duties od directors<\/li>\n
  4. And enhancing transparency of national insolvency proceedings through preparing factsheet with practical information on the main features of their domestic laws on insolvency proceedings<\/li>\n<\/ol>\n

    The most criticized part \u2013 special regime for microenterprises practically without insolvency practitioner involvement, will not be considered in future.<\/p>\n

    Unfortunately, the Proposal no longer covers also pre-pack which we hope can still be changed during Polish Presidency in the EU Council, since we believe regulating pre-packaged sale on the European level may create value and be beneficial for all insolvency stakeholders.<\/p>\n

    \n

    Authors: Pawe\u0142 Kuglarz; Mateusz Kali\u0144ski, LL.M. (Tatara & Partners, Krakow\/Warsaw)<\/em><\/p>\n

    \n

    Footnotes<\/p>\n

    [1]<\/a> Document Brussels, 7.12.2022, COM(2022) 702 final, 2022\/0408 (COD), available at: https:\/\/ec.europa.eu\/info\/law\/better-regulation\/have-your-say\/initiatives\/12592-Insolvency-laws-increasing-convergence-of-national-laws-to-encourage-cross-border-investment_en<\/strong><\/a>, hereinafter: the \u201cProposal\u201d.<\/p>\n

    [2]<\/a> Document available on: https:\/\/www.consilium.europa.eu\/en\/press\/press-releases\/2024\/12\/13\/insolvency-law-council-settles-on-position-for-core-capital-markets-union-legislation\/<\/strong><\/a> and https:\/\/data.consilium.europa.eu\/doc\/document\/ST-16283-2024-INIT\/en\/pdf<\/strong><\/a><\/p>\n","protected":false},"featured_media":0,"template":"","class_list":["post-46470","press_releases","type-press_releases","status-publish","hentry"],"acf":[],"_links":{"self":[{"href":"https:\/\/my.legal500.com\/developments\/wp-json\/wp\/v2\/press_releases\/46470","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/my.legal500.com\/developments\/wp-json\/wp\/v2\/press_releases"}],"about":[{"href":"https:\/\/my.legal500.com\/developments\/wp-json\/wp\/v2\/types\/press_releases"}],"wp:attachment":[{"href":"https:\/\/my.legal500.com\/developments\/wp-json\/wp\/v2\/media?parent=46470"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}