Regulation (EU) 2021/2260 amending Regulation (EU) 2015/848 on insolvency proceedings to replace its Annexes A and B

Summary:

Regulation (EU) 2021/2260 - adopted by the European Union on 15 December 2021 - introducing amendments to Regulation (EU) 2015/848 on insolvency proceedings.

Further information:

Regulation (EU) 2015/848 sets out EU-wide rules to establish which court has jurisdiction to open an insolvency case, the applicable national law and the recognition of the court's decision when a company, trader or an individual becomes insolvent. Its annexes A and B  are decisive in defining the scope of application of this Regulation. They list exhaustively those insolvency proceedings or insolvency practitioners, respectively, of the Member States’ laws, to which the Regulation applies.

In October 2020, the Netherlands notified the European Commission on changes of its domestic insolvency law, which was followed by similar notifications from other Member States in the following months. After an analysis of these notifications, the European Commission tabled a draft law on 11 May 2021 aimed at amending the annexes accordingly. The proposed Regulation was adopted by the co-legislators on 15 December 2021 and published in the Official Journal on 20 December 2021.

• Primary Source

Official

EUR-LEX: COM(2021)231: Proposal for a Regulation replacing Annexes A and B to Regulation (EU) 2015/848 on insolvency proceedings https://eur-lex.europa.eu/legal-content/EN/ALL/?uri=COM:2021:231:FIN

European Parliament: Legislative Observatory: Procedure File for Proposal on Insolvency proceedings: replacing Annexes A and B to Regulation (2021/0118(COD)) https://oeil.secure.europarl.europa.eu/oeil/popups/ficheprocedure.do?lang=en&reference=2021/0118(COD)

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