Agreement reached on a partial general approach on the directive on insolvency, restructuring and second chance

Today (04/06/2018), the Justice and Home Affairs Council has agreed on a partial general approach on the directive on insolvency, restructuring and second chance (previous posts on the proposal of this directive can be found here and here). The partial agreement covers the articles of Title III (Discharge of debts and disqualifications), Title IV (Measures to increase the efficiency of procedures concerning restructuring, insolvency and discharge of debt) and Title V (Monitoring of procedures concerning restructuring, insolvency and discharge of debt) as well as key related recitals.

The directive aims to reduce differences between member states’ restructuring and insolvency frameworks.

It is hoped that today’s agreement will pave the way for a full Council position (including on Title II concerning preventive restructuring frameworks) later this year and political agreement before the European Parliament elections.

The partial general approach can be found here.