Proposal for European rules on pre-pack proceedings should be supported

On 7 December 2022, the European Commission published the Proposal for a Directive of the European Parliament and of the Council harmonising certain aspects of insolvency law. The Proposal is intended to harmonise the insolvency laws of the Member States in order to make insolvency proceedings more predictable and efficient. The Proposal also includes a number of principles the pre-pack proceedings in each Member State must meet.

The Proposal discussed in this contribution by Marc van Zanten represents significant support for the continuation (rebirth) of prepack practice in the European Union.