The adoption of Directive (EU) 2026/799 marks another significant step in the evolution of the European insolvency framework and will require Member States to review key aspects of their national insolvency regimes before 2029.
In their opinion piece published in Vozpópuli, Prof. Dr. Rodrigo Olivares-Caminal and Marcos D'Alessandro examine the scope of the new Directive, the principal issues that will need to be addressed during its transposition into Spanish law, and its implications for the predictability and efficiency of insolvency proceedings across Europe.
The article also considers its impact on countries seeking accession to the European Union, which will be required to align their insolvency frameworks with this new EU standard. It will no longer be sufficient merely to coordinate cross-border insolvency proceedings under Regulation (EU) 2015/848. The European Commission will now assess whether candidate countries have equivalent substantive rules governing avoidance actions, asset tracing, pre-pack proceedings, directors' duties and creditor participation, as well as the institutional capacity to implement and enforce them effectively.
Read the full article here.
Read the Spanish article here.
