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On 1 April 2026, the Directive of the European Parliament and of the Council harmonising certain aspects of insolvency law (Directive; in Dutch: Harmonisatierichtlijn) has been published in the EU Official Journal. The Directive will enter into force on the twentieth day following that publication (i.e. 21 April 2026). Member States will then have two years and nine months to transpose the Directive into national law.
The Directive (EU) 2026/799 aims to improve the efficiency of the functioning of the capital markets in the EU and the predictability of the insolvency proceedings across Member States. As such, the Directive represents a further step towards reducing fragmentation in EU insolvency law by introducing minimum harmonisation standards.
The Directive addresses the following five pillars of minimum harmonisation in targeted areas of insolvency law:
- Avoidance actions;
- Pre-pack proceedings;
- Asset tracing;
- Creditors' committees; and
- Duty to file for insolvency.
Next steps
From 21 April 2026 onwards,Member States will have two years and nine months to transpose the Directive into their national legislation. Until then, existing national insolvency frameworks will continue to apply. Each of the Member States is allowed to implement the Directive and keep any rules that provide greater protection for the general body of creditors.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
