Regulation (EU) 2025/2073

What it is

to amend Regulation (EU) 2015/848 on insolvency proceedings to replace its Annexes A and B. PROPOSED ACT: Regulation of the European Parliament and of the Council. ROLE OF THE EUROPEAN PARLIAMENT: the European Parliament decides in accordance with the ordinary legislative procedure and on an equal footing with the Council. BACKGROUND: Annexes A and B to Regulation (EU) 2015/848 of the European Parliament and of the Council list the designations given in national law of the Member States, respectively, to the insolvency proceedings and to the insolvency practitioners to which that Regulation applies. It is, therefore, important that these Annexes are regularly updated in order to reflect the actual legal situation in the Member States. 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. Committee report tabled for plenary, 1st reading/single reading 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.

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