20/12/2018 (Agence Europe) – Member States' ambassadors to the EU (Coreper) confirmed on Wednesday 19 December the agreement reached between representatives of the Council of the EU and the European Parliament last week on the proposal for a directive establishing a minimum harmonisation of legal frameworks to deal with corporate insolvency (see EUROPE 11673). The final text is relatively close to the Council's position, in particular as regards the degree of flexibility necessary to allow Member States to adapt the new legislation to their existing frameworks (see EUROPE 11962). This is the case, for example, of the provisions relating to the intervention of judges or the duration of the temporary suspension of individual proceedings. Member States have two years to transpose these new rules into national law and an additional year if they request it from the Commission. (MF)