Update to EU Insolvency Proceedings Lists

Summary

The European Parliament proposes updating the official EU lists of insolvency proceedings and practitioners to reflect recent legislative changes in several Member States.
10 06.07.2018
Other
economy
civil law
european union
administrative law
business and competition

Key points

  • The proposal aims to update the official EU lists of insolvency procedures and the professionals who manage them.
  • The amendment replaces both Annex A and Annex B of the existing insolvency regulation to reflect current legal realities.
  • New types of restructuring and pre-insolvency proceedings are being added for countries like Bulgaria, Croatia, and Portugal.
  • The regulation clarifies that the United Kingdom intends to participate in these rules, while Ireland will not be bound by them.
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