A key new directive harmonising certain aspects of insolvency law was published in the Official Journal of the European Union on 1 April 2026.
The La Perla case represents one of the first real tests of cross-border insolvency between Italy and the United Kingdom in the post-Brexit landscape. The well-known lingerie brand, founded in Bologna in 1954, became embroiled in a complex corporate crisis that culminated in November 2023 with the opening of compulsory liquidation proceedings before the High Court in London against La Perla Global Management (UK) Limited (LPGMUK).
Introduction
On 1 April 2026, the long-awaited Directive harmonising certain aspects of insolvency law (the Directive) entered into force. The Directive covers five pillars:
Der EuGH hat mit Urteil vom 19.03.2026 (C-43/25, „SML Maschinen") entschieden, dass sich der Empfänger von Rückzahlungen auf ein Gesellschafterdarlehen nicht auf Art. 13 EuInsVO 2000 (bzw. Art. 16 EuInsVO n.F.) berufen kann, um ein Rückforderungsverlangen des Insolvenzverwalters abzuwehren, wenn dieses der Durchsetzung des insolvenzrechtlichen Forderungsnachrangs dient.
Sachverhalt
The latest Weil European Distress Index (WEDI), a closely watched early indicator of corporate distress and default risk, suggests that European businesses entered the latest period of geopolitical and energy market volatility from an already fragile starting point.
Introduction
On 10 March 2026, the European Parliament formally approved the long-awaited Directive harmonising certain aspects of insolvency law (the Directive) which will now be sent to the Council for final approval. The Council is expected to formally adopt the Directive by the end of this month after which it can be published in the Official Journal of the EU and enter into force. The Directive covers five pillars:
In brief
Welcome to the latest edition of the Financial Regulation Weekly Bulletin.
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Developments this week are in relation to:
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Harmonising EU insolvency law: colegislators reach agreement on compromise text for a new directive — key changes and what is next 8 DECEMBER 2025 EU insolvency law © A&O Shearman 2 EU directive harmonising certain aspects of insolvency law Overview and status The European Parliament and the Council (the co-legislators) reached political agreement on the proposed Directive harmonising certain aspects of insolvency law on 19 November 2025. The final compromise text was confirmed and circulated in early December 2025.
Въведение