Compliance Node Overview
This Directive harmonises certain aspects of insolvency law across Member States to improve the functioning of the internal market and the Capital Markets Union by removing obstacles to free movement of capital and freedom of establishment. It sets minimum requirements for avoidance actions aimed at voiding, voiding or rendering unenforceable legal acts detrimental to creditors, with specific grounds for congruent and incongruent coverage and a limitation period. The Directive mandates access for insolvency practitioners to bank account registers through designated courts or administrative authorities, and to beneficial ownership registers and other national databases for tracing assets. It introduces pre-pack proceedings for the sale of a business as a going concern, with a confidential preparation phase and a liquidation phase under judicial or competent authority supervision. The pre-pack process must be governed by statutory provisions, include a monitor independent from the debtor, and ensure high standards of competitiveness, transparency and fairness. The Directive is without prejudice to workers’ rights under Directives 98/59/EC, 2001/23/EC, 2002/14/EC, 2008/94/EC and 2009/38/EC.
Pillar: Cybersecurity · Authority: European Union · Version: 1.0.0 · Last updated:
Primary source: https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:32026L0799
SHA-256 integrity: ac3b34daff19eabd75f0125b7a4cb0e855c1465f1a2e19ccfe4ee96ebe5c39ec
Primary Citations — 7 traced to source
- Directive (EU) 2026/799 of the European Parliament and of the Council of 30 March 2026 harmonising certain aspects of insolvency law (Text with EEA relevance), Article 114 - legal basis referring to Treaty on the Functioning of the European Union
- Directive (EU) 2026/799 of the European Parliament and of the Council of 30 March 2026 harmonising certain aspects of insolvency law (Text with EEA relevance), Recital 5 - definition of avoidance actions as actions for voidness, voidability or unenforceability of legal acts detrimental to creditors
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