The European Union (Preventive Restructuring) Regulations 2022 were signed on 27 July 2022 to give effect to an EU directive (Directive (EU) 2019/1023). The Directive aims to ensure that member states have in place effective frameworks for early warning and prevention of corporate insolvency.

Irish companies are facing challenges with the sudden changes imposed on their businesses as a result of the impact of COVID-19. Some may be experiencing cash flow difficulties; others may have had to temporarily cease trading altogether.

Directors are responsible for managing their company’s affairs. This requires them to identify and navigate risks, and to ensure that appropriate strategies and where necessary contingencies are in place to anticipate and deal with such risks.

DSB Bank (DSB), a small Dutch lender, has been declared bankrupt on 19 October 2009. Other Dutch banks will now have to guarantee DSB's deposits. The Dutch central bank said on 19 October 2009 that it had activated the national deposit guarantee system to deal with the bankruptcy, and that it expects eligible depositors to be reimbursed by Christmas. The banks will have to pay into the guarantee system in proportion to their market share.