Insolvency proceedings (recast)

This procedure aims to update and harmonise the rules on cross-border insolvency proceedings within the EU. It seeks to improve the efficiency of insolvency proceedings, facilitate the rescue of viable businesses, and ensure fair treatment of creditors and debtors across member states.

The recast rules will affect businesses operating in multiple EU countries, their creditors, and insolvency practitioners. It aims to provide greater legal certainty and reduce costs associated with cross-border insolvencies.