The European Commission proposed on Tuesday 11 May an update of the Annexes of the 2015 Regulation on Insolvency Proceedings.
In October 2020, the Netherlands notified the Commission of changes to its national insolvency legislation, introducing a new preventive insolvency regime and new categories of insolvency practitioners. Further notifications were received from Italy, Lithuania, Cyprus and Poland in December 2020.
A national proceeding can only be considered an “insolvency...