On Monday 2 July, after several successive postponements to the vote (see EUROPE 12045, 12046), the European Parliament's judicial affairs committee (JURI) adopted the draft report by Angelika Niebler (EPP, Germany) on the draft directive harmonising business insolvency rules (EUROPE 11673).
The text was adopted by 14 votes in favour, 7 against and 1 abstention. It pays particular attention to the question of respecting workers' rights in the corporate restructuring processes (see EUROPE 11921).
It should be pointed out that amendment 6a, supported by the EPP was adopted by just one vote. MEPs have therefore given their approval to the insertion of a safeguard clause when a restructuring plan includes measures that could affect workers but only when this case is included in national legislation.
The principle whereby an honest businessman has become insolvent and should be given a “second chance” by being released from their debts for the first time after a maximum period of five years, was also approved. It should be recalled that the Council adopted a partial general approach in June (see EUROPE 12033) and it set this maximum period at three years.
MEPs also approved the negotiating mandate by 15 votes in favour, 6 against and 1 abstention. The negotiations with the member states will therefore be able to begin as soon as the Council of the EU has concluded its negotiating position, perhaps during the October Justice Council. (Original version in French by Marion Fontana)