WP 20 Harmonisation of EU insolvency law


On 7 December 2022, the European Commission published its long-awaited Proposal for a directive harmonising certain aspects of insolvency law (EC Proposal) COM/2022/702 final. The European Commission puts forward measures to further develop the Capital Markets Union, which includes the harmonisation of certain corporate insolvency rules across the EU, making them more efficient and helping promote cross-border investment.
The EC Proposal focuses on the harmonization of substantive insolvency law and aims at three main targets:

1. the recovery of assets from a liquidated insolvent estate,
2. the efficiency of procedures, and
3. the predictable and fair distribution of recovered value among the creditors.

The topics of the EC Proposal are (i) avoidance actions, (ii) tracing assets belonging to the insolvency estate, (iii) pre-pack proceedings, (iv) directors’ duty to request the opening of insolvency proceedings, (v) winding-up of insolvent micro-enterprises, (vi) creditors’ committee, and (vii) measures enhancing the transparency of national insolvency laws. Click here for the full EC Proposal and here for a synopsis.


Prof. Reinout Vriesendorp

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Conferees part of

WP 20 Harmonisation of EU insolvency law

Mylène Boché-Robinet -
Gert-Jan Boon -
Reinhard Bork -
Stephan Madaus -
Defne Tasman -
Ignacio Tirado -
Reinout Vriesendorp -