Insolvency proceedings: replacing Annexes A and B

The European Parliament adopted by 662 votes to 3, with 2 abstentions, a legislative resolution on the proposal for a regulation of the European Parliament and of the Council amending Regulation (EU) 2015/848 on insolvency proceedings in order to replace its Annexes A and B.

The European Parliament adopted 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 said Regulation reflects, at the time of its application, the existing legal framework of the Member States in matters of insolvency.

In July 2022, Slovakia notified the Commission of recent changes to its national law which introduced a new preventive restructuring procedure and a new type of insolvency practitioner. That notification was followed by notifications from Estonia, Spain and Italy in September 2022, from Belgium in July 2023, from Malta in September 2023 and from Luxembourg in January 2024, all relating to recent changes to their national law which introduced new types of insolvency proceedings or insolvency practitioners.

After the submission of the Commission’s proposal, further notifications were received from Bulgaria, Czechia, Spain and France relating to recent changes to their national law which also introduced new types of insolvency proceedings or insolvency practitioners.

These amendments have been incorporated into the Annexes.