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.
Key Takeaway
Luxembourg’s law of 5 August 2005 on financial collateral arrangements, as amended (Collateral Law 2005), continues to offer strong safe-harbor protections for financial collateral arrangements and is now confirmed to apply to insolvency proceedings globally.
Recent Developments
Court of Appeal Ruling
1 SOLVENCY II 1.1 First batch of EIOPA consultations on technical standards under expected amendments to Solvency II Directive On 1 October 2024, EIOPA published its first batch of consultation papers on technical standards which relate to anticipated changes under the Solvency II Directive1.
The legal landscape in the field of restructuring and insolvency is evolving, driven by legislative measures and judicial practice.
In 2025, the following developments can help you navigate complex financial landscapes, protect assets, and make informed decisions to address financial challenges ensuring survival or orderly dissolution when facing financial distress.
On 13 December 2024, EU member states agreed on a ‘partial’ general approach to the harmonisation of insolvency law.
1 r October, 2024（No. 26） ムシス バシリ / 金子 涼一 / パップワース チャールズ / 田村 允 1. 欧州委員会、排除型市場支配的地位の濫用に関するガイドライン案を 公表 本ガイドライン案の背景 EU の機能に関する条約（Treaty on the Functioning of the European Union、以下「EU 機能条約」） 102 条は、EU の域内市場で活動する事業者による市場支配的地位の濫用を禁止しています。 2024 年 8 月 1 日、欧州委員会は、EU 機能条約 102 条の排除型市場支配的地位の濫用 （exclusionary abuse）に関するガイドライン案（以下「本ガイドライン案」）を公表しました 1。本ガイドライン案 は 2024 年 10 月 31 日を期限とした意見公募（パブリックコメント）に付されています。 本ガイドライン案は、EU 機能条約 102 条の定める排除型市場支配的地位の濫用に関する EU 裁判所 の判例について、欧州委員会の理解を整理するものであり、欧州委員会は本ガイドライン案の公表により、 「法的安定性を高め、事業者が、自らの行為について、EU 機能条約 102 条の定める排除型市場支配的 地位の濫用に該当するか否かを自ら判断することに資する」ことを意図しています 2。
1. Introduction
EIOPA Consultation on the new Proportionality Framework under Solvency II
www.mathweswown..mcoamthesoPna.gceom1
Overview
In August this year, the European Insurance and Occupational Pensions Authority ("EIOPA") published a public consultation ("Consultation") on the new proportionality framework proposed in the Provisional Agreement on amendments to the Solvency II Directive ("Provisional Agreement").
On 7 December 2022, the EU Commission published a draft directive harmonising certain aspects of insolvency law, which is now undergoing EU legislative procedure. In light of this the proposal, this article provides an overview of the current state of avoidance rights regulation under the insolvency legal framework in Bosnia and Herzegovina.
Insolvency avoidance rights regulation in Bosnia and Herzegovina
In response to the EU Commission's proposal for a directive to harmonse specific elements of insolvency law on 7 December 2022, this article explores avoidance actions, one of the Directive Proposal’s key aspects, and the way avoidance actions are regulated in Serbia and Montenegro as EU candidate countries.
In the context of insolvency proceedings, avoidance actions involve the annulment of transactions undertaken by the insolvent debtor before the initiation of insolvency proceedings.
Avoidance actions in Serbia