Andersen Legal in GreeceAndersen’s Restructuring and Insolvency Service Line announces the release of the new publication, Europe after Directive (EU) 2019/1023 of 20 June 2019: A comprehensive European Guide.
Directive 2019/1023, issued by the European Parliament and Council, aims to harmonize and modernize restructuring and insolvency frameworks across EU member states. Its primary goals are to provide preventive restructuring frameworks, offer a second chance for honest entrepreneurs, and improve insolvency procedure efficiency. Due to differing legal backgrounds and development stages among member states, the Directive includes many alternatives and opt-outs, resulting in substantial differences in its implementation. Despite a deadline of July 17, 2021, not all states have complied.
This document serves as an initial guide, reviews the varying legal frameworks in different EU countries and some non-EU jurisdictions.
