On Tuesday, the European Parliament approved a provisional agreement on harmonised insolvency standards, with 498 votes in favour, 90 against and 28 abstentions. The new rules enhance insolvency coordination among EU member states and make the EU more appealing to foreign and cross-border investors.
To improve capital market operations and facilitate cross-border investment, the European Commission introduced new rules in December 2022. These rules streamline asset tracing by providing insolvency practitioners with access to beneficial ownership registers and national databases.
“The new EU insolvency rules will make procedures faster and more cost-effective, while strengthening protection for all parties involved. Enhanced access…