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The proposed EU Business Insolvency Directive aims to ensure that entrepreneurs in financial difficulties:

  • can seek support at an early stage
  • benefit from a flexible and efficient restructuring framework, and
  • if all else fails, can get a second chance after insolvency


Professional accountants can play a key role in advancing the Directive’s objectives, especially in restructuring business and identifying early warning mechanisms for insolvency.

This paper presents the accountancy profession’s positions on the most contentious matters in this Directive to contribute to its smooth adoption. 

We provide three key principles for the current negotiations:  

  1. ensure that entrepreneurs have access to appropriate and timely advice  
  2. reduce bureaucracy in insolvency proceedings 
  3. consider the long term economic benefits that the Directive will bring to the market 

The paper is available here: http://bit.ly/2zAl0V0

With our latest event on 10 October, we took stock of European Commission’s and European Council’s work and debated on what the next steps to ensure a harmonised insolvency framework should be.
The conclusions of the day and Accountancy Europe's key positions on the EU Business Insolvency Directive are available in event's summary: 
http://bit.ly/2vEXnIb


For information
Eleni Kanelli, Manager
elenik@accountancyeurope.eu
+ 32 2 893 33 78

About Accountancy Europe
Accountancy Europe unites 50 professional organisations from 37 countries that represent 1 million professional accountants, auditors, and advisors. They make numbers work for people. Accountancy Europe translates their daily experience to inform the public policy debate in Europe and beyond.
Accountancy Europe is in the EU Transparency Register (No 4713568401-18).
 
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