As a reminder, on 22 November 2016, the European Commission has presented a proposal for a Directive on preventive restructuring frameworks, second chance and measures to increase the efficiency of restructuring, insolvency and discharge procedures and amending Directive 2012/30/EU1 (the Proposal). By letter of 23 November 2016, the European Commission transmitted the Proposal, which is subject to the ordinary legislative procedure, to the Council and the European Parliament.
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