On Wednesday 4 June, MEPs on the European Parliament’s Committee on Legal Affairs (JURI) studied the proposal to amend Annexes A and B of the Regulation on insolvency proceedings.
This is a regular exercise carried out by the European Commission to update the list of national insolvency proceedings and the practitioners involved, as communicated by the Member States.
The purpose of this update, which is mainly technical, is to reflect the legislative changes that have taken place since the last revision, particularly following the transposition of the Restructuring and Insolvency Directive in several countries.
Slovakia, Spain, Malta, Italy, Belgium and Luxembourg have all notified new procedures from 2022, followed more recently by Bulgaria, the Czech Republic and France.
According to the Commission representative, the main new element is the more detailed legal basis chosen for the drafting of this amending regulation, following an opinion from the EU Council Secretariat.
In addition, a number of changes were incorporated after the initial text was submitted, following additional notifications received, notably from Spain and France. “We have not detected any obstacles to the mutual recognition of these procedures”, the Commission representative said, calling for rapid adoption of the proposal.
The rapporteurs expressed broad support. A “transversal” text was welcomed. It will be adopted by simplified procedure, in accordance with Rule 52 of Parliament’s Rules of Procedure. MEPs have until 6 June to table any amendments.
The vote is scheduled for 24 June.
Approval of a ‘general approach’ is on the agenda of the EU ‘Justice’ Council scheduled for 12 June in Luxembourg.
To see the proposed regulation: https://aeur.eu/f/h6f (Original version in French by Nithya Paquiry)