MIL-OSI Europe: Answer to a written question – Inadequate impact assessment of the proposal for a directive harmonising certain aspects of insolvency law (2022/0408(COD)) – E-002904/2024(ASW)

The impact assessment on the proposal for the Insolvency Directive[1] included a direct consultation carried out by the Commission, and an additional study which included further consultations. The Study was published on the Commission website[2].

The Commission ensured that there was a balanced geographical distribution of stakeholders and experts consulted. Its direct consultation was open to all stakeholders and published on the Commission website[3]: stakeholders consulted came from 18 Member States and dedicated workshops with private and governmental experts were organised.

Contractor’s consultation was performed via direct interviews with stakeholders from 15 EU Member States, including the Netherlands, and through an online survey targeting more than 800 stakeholders covering 24 Member States with 120 completed responses[4].

Since most stakeholders and experts favoured a harmonisation of directors’ duties in the vicinity of insolvency and in view of its economic benefits as assessed in the impact assessment, the Commission proposed a requirement to request the opening of insolvency proceedings within three months[5].

• [1] SWD(2022) 395 final.
• [2] https://commission.europa.eu/strategy-and-policy/policies/justice-and-fundamental-rights/civil-justice/civil-and-commercial-law/insolvency-proceedings_en#research-and-key-documents.
• [3] https://ec.europa.eu/info/law/better-regulation/have-your-say/initiatives/12592-Insolvency-laws-increasing-convergence-of-national-laws-to-encourage-cross-border-investment/public-consultation_en
• [4] Annex 2 of the impact assessment and Section 2.3. of the impact assessment study.
• [5] Sections 2.2., 2.6. and 3 of Appendix to Annex 2 of the impact assessment.