Council agreed on a general approach on the proposal for a Directive on insolvency, restructuring and second chance

Yesterday (11 October 2018), the Justice and Home Affairs Council has agreed on a general approach on the proposal of the Commission (22 November 2016) for a Directive on “preventive restructuring frameworks, on discharge of debt and disqualifications and measures to increase the efficiency of procedures concerning restructuring, insolvency and discharge of debt”. The general approach goes further than the partial general approach that was reached during the Council meetings on 4 and 5 June 2018. The approach reached yesterday also includes Titles I (General Provisions), II (Preventive restructuring frameworks) and VI (Final provisions).

As stated on its website, the position of the Council keeps all the main elements of the initial Commission’s proposal but provides more flexibility for Member States to adapt the new legislation to their existing frameworks. In particular, the Council has amended the provisions on: Continue reading “Council agreed on a general approach on the proposal for a Directive on insolvency, restructuring and second chance”

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.

Continue reading “Agreement reached on a partial general approach on the directive on insolvency, restructuring and second chance”