Ein weiterer Schritt auf dem Weg zur Harmonisierung des Insolvenzrechts in Europa. Der Richtlinienvorschlag vom 7.12.2023

On 7 December 2022, the European Commission presented a proposal for a directive harmonising certain aspects of insolvency law. The initiative follows on from the Restructuring Directive (2019/1023), with which the European legislator had already brought about an approximation of national laws on preventive restructuring frameworks. At that time, it was still asserted that the differences between the legal systems of the Member States with regard to insolvency proceedings in the true sense were too great to be bridged. However, due to the challenges triggered by the Covid-19 pandemic and the new momentum in the realisation of the Capital Markets Union, the Commission considered that the time was now ripe to launch the next stage in the establishment of a common insolvency law. The aim of this paper is to provide a first commentary on this further step