On June 26, 2019, the Directive (EU) 2019/1023 of the European Parliament and of the Council of June 20, 2019 on preventive restructuring frameworks, on discharge of debt and disqualifications, and of measures to increase the efficiency of procedures concerning restructuring, insolvency and discharge of debt, and amending Directive (EU) 2017/1132 (the EU Restructuring Directive), were formally published in the Official Journal of the European Union.
To date, EU legislation in the area of corporate insolvency and restructuring has been limited mainly to cross-border recognition and cooperation, whereas according to the EU Restructuring Directive, by July 17, 2021, all EU Member States must transpose its provisions in their…
Read the full article at: https://cyprus-mail.com/2021/05/26/eu-restructuring-directive-to-offer-ailing-cyprus-companies-a-lifeline/