Annexes to COM(2022)702 - Proposal for a directive harmonising certain aspects of insolvency law

Please note

This page contains a limited version of this dossier in the EU Monitor.

dossier COM(2022)702 - Proposal for a directive harmonising certain aspects of insolvency law.
document COM(2022)702 EN
date December  7, 2022
annex C: case study on the cross-border dimension of business transfers,’ Executive Agency for Small and Medium-sized Enterprises, Publications Office, February 2021, available at: , (2) Steffek, F., ‘Analysis of individual and collective loan enforcement laws in the EU Member States’, DG FISMA, November 2019, available at , (3) McCormack, G. et al., ‘Study on a new approach to business failure and insolvency, comparative legal analysis of the Member States’ relevant provisions and practices’, DG JUST, January 2016, available at , (4) EBA Report on the benchmarking of national loan enforcement frameworks, Response to the European Commission’s call for advice on benchmarking on national loan enforcement frameworks (including insolvency frameworks) from a bank creditors perspective, European Banking Authority, November 2020, EBA/Rep/2020/29.
(22) Regulation (EU) 2018/1725 of the European Parliament and of the Council of 23 October 2018 on the protection of natural persons with regard to the processing of personal data by the Union institutions, bodies, offices and agencies and on the free movement of such data, and repealing Regulation (EC) No 45/2001 and Decision No 1247/2002/EC (OJ L 295, 21.11.2018, p. 39).
(23) These costs should be complemented by another EUR 1.6 million implementation cost for the budgetary year of 2028. The estimated annual maintenance costs of the interconnection system in the European e-Justice Portal are EUR 600 000 as of 2029.
(24) https://e-justice.europa.eu/content_interconnected_insolvency_registers_search-246-en.do.
(25) Directive (EU) 2015/849 of the European Parliament and of the Council of 20 May 2015 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing, amending Regulation (EU) 648/2012 of the European Parliament and of the Council, and repealing Directive 2005/60/EC of the European Parliament and of the Council and Commission Directive 2006/70/EC, OJ L 0849, 09.07.2018, p.1.
(26) Directive (EU) 2019/1153 of the European Parliament and of the Council of 20 June 2019 laying down rules facilitating the use of financial and other information for the prevention, detection, investigation or prosecution of certain criminal offences, and repealing Council Decision 2000/642/JHA (OJ L 186, 11.7.2019, p. 122).
(27) The EU-wide interconnection of the national central bank account registries (CBAR) has been proposed by the European Commission in its proposal for the 6th Anti-Money Laundering Directive. See Articles 14 and 15 of the proposal (COM/2021/423 final of 20.7.2021). The proposal is currently being negotiated in the European Parliament and the Council.
(28) UNCITRAL Legislative Guide on Insolvency Law, Part four: Directors’ obligations in the period approaching insolvency (including in enterprise groups), p. 19 (mn. 15).
(29) Council Decision of 28 May 2001 establishing a European Judicial Network in civil and commercial matters (2001/470/EC). The information on national insolvency laws produced in the context of the EJN is available in the European e-Justice Portal at: https://e-justice.europa.eu/447/EN/insolvencybankruptcy.
(30) OJ C [...], [...], p. [...]
(31) OJ C [...], [...], p. [...]
(32) Regulation (EU) 2015/848 of the European Parliament and of the Council of 20 May 2015 on insolvency proceedings (OJ L 141 5.6.2015, p. 19).
(33) Directive (EU) 2019/1023 of the European Parliament and of the Council of 20 June 2019 on preventive restructuring frameworks, on discharge of debt and disqualifications, and on measures to increase the efficiency of procedures concerning restructuring, insolvency and discharge of debt, and amending Directive (EU) 2017/1132 (Directive on restructuring and insolvency) (OJ L 172, 26.6.2019, p. 18).
(34) OJ
(35) Directive (EU) 2015/849 of the European Parliament and of the Council of 20 May 2015 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing, amending Regulation (EU) No 648/2012 of the European Parliament and of the Council, and repealing Directive 2005/60/EC of the European Parliament and of the Council and Commission Directive 2006/70/EC (OJ L 141 5.6.2015, p. 73).
(36) Council Regulation (EC) No 139/2004 of 20 January 2004 on the control of concentrations between undertakings (the EC Merger Regulation) (OJ L 024 29.01.2004, p. 1)
(37) For digital solutions, the dual pillar approach is about reusing existing solutions, including corporate building blocks, before considering ready-made market solutions. Customised development is the last option. See European Commission digital strategy Next generation digital Commission, C(2022) 4388 final, p. 13. 
(38) Regulation (EU) 2016/679 of the European Parliament and of the Council of 27 April 2016 on the protection of natural persons with regard to the processing of personal data and on the free movement of such data, and repealing Directive 95/46/EC (General Data Protection Regulation) (OJ L 119, 4.5.2016, p. 1).
(39) Regulation (EU) 2018/1725 of the European Parliament and of the Council of 23 October 2018 on the protection of natural persons with regard to the processing of personal data by the Union institutions, bodies, offices and agencies and on the free movement of such data, and repealing Regulation (EC) No 45/2001 and Decision No 1247/2002/EC (OJ L 295, 21.11.2018, p. 39).
(40) Council Directive 2001/23/EC of 12 March 2001 on the approximation of the laws of the Member States relating to the safeguarding of employees' rights in the event of transfers of undertakings, businesses or parts of undertakings or businesses (OJ L 82, 22.3.2001, p. 16).
(41) Regulation (EU) No 910/2014 of the European Parliament and of the Council of 23 July 2014 on electronic identification and trust services for electronic transactions in the internal market and repealing Directive 1999/93/EC (OJ L 257, 28.8.2014, p. 73).
(42) Article 16(1) of Directive (EU) 2017/1132 of the European Parliament and of the Council of 14 June 2017 relating to certain aspects of company law
(43) DIRECTIVE (EU) 2019/1023 OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL of 20 June 2019 on preventive restructuring frameworks, on discharge of debt and disqualifications, and on measures to increase the efficiency of procedures concerning restructuring, insolvency and discharge of debt, and amending Directive (EU) 2017/1132