Insolvency proceedings: replacing Annexes A and B

The Committee on Legal Affairs adopted the report by Ilhan KYUCHYUK (Renew, BG) on the proposal for a regulation of the European Parliament and of the Council amending Regulation (EU) 2015/848 on insolvency proceedings to replace its Annexes A and B.

The committee responsible recommended that the European Parliament adopt its position at first reading by adopting the proposal to amend Annexes A and B to Regulation (EU) 2015/848, which aims to ensure that the scope of the Regulation reflects, at the time of its application, the existing legal framework of the Member States in matters of insolvency.

The report highlighted that after the Commission presented its proposal, further notifications were received from Bulgaria, the Czech Republic and France relating to recent changes to their domestic law that introduce new types of insolvency proceedings or insolvency practitioners. These amendments are included in the annexes.