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In our earlier blog, "EU insolvency law: Member States move closer to harmonisation", we examined how proposals to harmonise insolvency law across the European Union are gathering pace with a draft Directive to harmonise certain aspects of insolvency law being negotiated. And the pace is, indeed, continuing.

On 12 June 2025, the Council of the EU announced that member states have agreed on a general approach to a directive aimed at bringing national insolvency standards closer together. This draft directive is designed to make the EU more attractive to foreign and cross-border investors by reducing the legal uncertainties and complexities associated with differing national insolvency laws.

On 13 December 2024, EU member states agreed on a ‘partial’ general approach to the harmonisation of insolvency law.