Sebastiaan Meeuwens (Legalis advocaten) and Gloria Viñals (Bufete Mañá-Krier-Elvira), as chairs of the Restructuring and Litigation & Arbitration Focus Groups, are pleased to share the Council of the EU’s recent insights on insolvency law harmonisation.
This development marks a significant step forward towards a more cohesive legal framework across member states.
The Council of the EU’s agreement on a directive to harmonise certain aspects of insolvency law marks a major step towards enhancing cross-border investor confidence by aligning national regimes—most notably through the introduction of a pre-pack mechanism and mandatory creditors’ committees in larger cases in all member states. By standardising key elements such as directors’ duties and transparency obligations, the EU takes a significant leap in streamlining capital market operations across its Member States.
We encourage our colleagues to review the Council’s overview and consider its implications for our respective practices.
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