Consultation on Insolvency Directive
- Published on: 3 March 2017
- Submissions closed: 31 January 2017
- Last updated on: 12 January 2023
In early 2017, the Department of Justice and the Department of Jobs, Enterprise and Innovation ran a joint consultation seeking views of interested parties on a recent proposal by the European Commission.
The proposed Directive seeks to harmonise, for the first time, substantive provisions of national laws and frameworks across Member States in the area of business insolvency. It covers both company debts, and the debts of an over-indebted person who is or was carrying on a trade, business, craft or profession. Each Member State also has an option, under the proposal, to extend the proposal’s application to over-indebted persons with non-business debts.
The proposal would affect Irish personal insolvency and bankruptcy law, as well as company insolvency law (including examinership).
The Oireachtas Joint Committee on Justice also sought the views of the Insolvency Service of Ireland on this matter.
The Insolvency Service of Ireland submissions:
Further details of the proposed Directive: