Summary
A proposal to harmonize EU rules on business restructuring and insolvency to support viable companies and provide a 'second chance' for entrepreneurs. 10 03.07.2019
Other
economy
finance
transport
labour law
social policy
public administration
business and competition
employment and working conditions
information technology and data processing
Key points
- The directive aims to create a more unified European market by standardizing how businesses handle financial distress and insolvency.
- Viable companies should have access to early restructuring frameworks to prevent total liquidation and job losses.
- A temporary pause on creditor actions is allowed for up to four months, with potential extensions.
- Honest entrepreneurs can receive a full discharge of their debts within a five-year period.
Documents (PDFs)
REPORT on the proposal for a directive of the European Parliament and of the Council on preventive restructuring frameworks, second chance and measures to increase the efficiency of restructuring, insolvency and discharge procedures and amending Directive 2012/30/EU
Increasing the efficiency of restructuring, insolvency and discharge procedures ***I
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