##  [Green light to the directive set to harmonize and strengthen restructurings in the EU](/en_GB/new/green-light-directive-set-harmonize-and-strengthen-restructurings-eu) 

# Green light to the directive set to harmonize and strengthen restructurings in the EU





Spain - 06 / 07 / 2019

















- <a aria-label="Link" class="fs-5" data-content="Copied link" data-placement="top" data-toggle="popover" data-trigger="focus" data-url="https://www.garrigues.com/en_GB/new/green-light-directive-set-harmonize-and-strengthen-restructurings-eu" id="get-app-artwork" role="button" tabindex="0"></a>
- [](https://www.linkedin.com/sharing/share-offsite/?url=https://www.garrigues.com/en_GB/new/green-light-directive-set-harmonize-and-strengthen-restructurings-eu)
- [](<https://twitter.com/intent/tweet?text=Green light to the directive set to harmonize and strengthen restructurings in the EU&url=https://www.garrigues.com/en_GB/new/green-light-directive-set-harmonize-and-strengthen-restructurings-eu>)
- [](<https://www.facebook.com/sharer.php?u=https://www.garrigues.com/en_GB/new/green-light-directive-set-harmonize-and-strengthen-restructurings-eu&t=Green light to the directive set to harmonize and strengthen restructurings in the EU>)

 







   Previous    Next  







 ![](/sites/default/files/noticias/img/newsletter_reestructuraciones_e_insolvencias_junio_2019_0_3.jpg)













**On June 6 the Council of the European Union approved the Proposal for a Directive of the European Parliament and of the Council on preventive restructuring frameworks, second chance and measures to increase the efficiency of restructuring, insolvency and discharge procedures.**





This marks an end to the legislative process of the Directive, which is now pending to be publisged in the Official Journal of the European Union.

Put concisely, the approved directive imposes an obligation on member states to implement harmonized legislation on:

- Preventive restructuring frameworks available for debtors in financial difficulty;
- Procedures aimed at discharging the debts of insolvent entrepreneurs to give them a “second chance” in business; and
- Measures to increase the efficiency of restructuring, insolvency and discharge procedures.

The member states have two years (with the possibility of a 1-year extension), from the entry into force of the Directive (that is, 20 days after its publication in the Official Journal), in which to transpose it in their national laws.









[Restructuring &amp; Insolvency](/en_GB/tags/restructuring-insolvency), [Spain](/en_GB/tags/spain)







 

 



 

 

### Contacts

 

 ![Adrián Thery Martí - Garrigues](/sites/default/files/styles/medium/public/team/photo/Adrian_Thery_Marti_en_20240619.jpg?itok=jcbiBc9t)

[Adrián Thery](/en_GB/team/adrian-thery-marti)




![](/themes/custom/garriguestheme/img/iconos/email-contacto.svg)[Contact](<mailto:adrian.thery@garrigues.com >)

- +34 91 514 52 00
    
    [Madrid](https://www.garrigues.com/en_GB/office/madrid)
 










 ![Foto del socio](/sites/default/files/styles/medium/public/team/photo/Borja_Garcia-Alaman_de_la_Calle_en_20251105.jpg?itok=m4Nee5Rk)

[Borja García-Alamán](/en_GB/team/borja-garcia-alaman-calle)




![](/themes/custom/garriguestheme/img/iconos/email-contacto.svg)[Contact](<mailto:borja.garcia-alaman@garrigues.com >)

- +34 91 514 52 00
    
    [Madrid](https://www.garrigues.com/en_GB/office/madrid)
 










 

[Find more professionals](../team)

 

 



 

### Related services 

 

- [Restructuring and Insolvency ](/en_GB/services/restructuring-and-insolvency)
 


 

 



 

 

- 
 


 

 



 

## Find a publication

   

- [Administrative and Constitutional Law](/en_GB/markdownify/node/7174?f%5B0%5D=service%3A1422)
- [Agribusiness and Food](/en_GB/markdownify/node/7174?f%5B0%5D=service%3A1417)
- [Automotive](/en_GB/markdownify/node/7174?f%5B0%5D=service%3A1419)
- [Banking and Finance](/en_GB/markdownify/node/7174?f%5B0%5D=service%3A1443)
- [Corporate and M&amp;A](/en_GB/markdownify/node/7174?f%5B0%5D=service%3A1441)
- [Corporate Governance and Sustainable Development](/en_GB/markdownify/node/7174?f%5B0%5D=service%3A12823)
- [Criminal Law and Internal Investigations](/en_GB/markdownify/node/7174?f%5B0%5D=service%3A1434)
- [Data Economy, Privacy and Cybersecurity](/en_GB/markdownify/node/7174?f%5B0%5D=service%3A10913)
- [Dispute Resolution: Litigation and Arbitration](/en_GB/markdownify/node/7174?f%5B0%5D=service%3A1412)
- [Energy](/en_GB/markdownify/node/7174?f%5B0%5D=service%3A10916)
- [EU and Antitrust Law](/en_GB/markdownify/node/7174?f%5B0%5D=service%3A1416)
- [Family Business](/en_GB/markdownify/node/7174?f%5B0%5D=service%3A1413)
- [Fashion Law](/en_GB/markdownify/node/7174?f%5B0%5D=service%3A1435)
- [Financial Regulation](/en_GB/markdownify/node/7174?f%5B0%5D=service%3A10915)
- [G-advisory](/en_GB/markdownify/node/7174?f%5B0%5D=service%3A12821)
- [Human Capital Services](/en_GB/markdownify/node/7174?f%5B0%5D=service%3A1431)
- [Infrastructure](/en_GB/markdownify/node/7174?f%5B0%5D=service%3A10914)
- [Insurance](/en_GB/markdownify/node/7174?f%5B0%5D=service%3A1438)
- [Intellectual Property](/en_GB/markdownify/node/7174?f%5B0%5D=service%3A1421)
- [Labor and Employment](/en_GB/markdownify/node/7174?f%5B0%5D=service%3A1424)
- [Life Sciences and Healthcare](/en_GB/markdownify/node/7174?f%5B0%5D=service%3A1429)
- [Media and Entertainment](/en_GB/markdownify/node/7174?f%5B0%5D=service%3A1433)
- [Planning, Zoning and Environment](/en_GB/markdownify/node/7174?f%5B0%5D=service%3A1444)
- [Private Equity](/en_GB/markdownify/node/7174?f%5B0%5D=service%3A1439)
- [Real Estate](/en_GB/markdownify/node/7174?f%5B0%5D=service%3A10927)
- [Restructuring and Insolvency](/en_GB/markdownify/node/7174?f%5B0%5D=service%3A1420)
- [Securities Markets](/en_GB/markdownify/node/7174?f%5B0%5D=service%3A1442)
- [Sports](/en_GB/markdownify/node/7174?f%5B0%5D=service%3A1430)
- [Startups &amp; Open innovation](/en_GB/markdownify/node/7174?f%5B0%5D=service%3A1426)
- [Sustainability](/en_GB/markdownify/node/7174?f%5B0%5D=service%3A10921)
- [Tax](/en_GB/markdownify/node/7174?f%5B0%5D=service%3A1425)
- [Technology, Communications and Digital](/en_GB/markdownify/node/7174?f%5B0%5D=service%3A1436)
- [Tourism and Hotels](/en_GB/markdownify/node/7174?f%5B0%5D=service%3A1432)
- [Transport, Logistics and Shipping](/en_GB/markdownify/node/7174?f%5B0%5D=service%3A1428)

 Facet Services detail

 



- [Publications](/en_GB/markdownify/node/7174?f%5B0%5D=publication_type%3A794)
- [Newsletters](/en_GB/markdownify/node/7174?f%5B0%5D=publication_type%3A107)
- [Garrigues collection](/en_GB/markdownify/node/7174?f%5B0%5D=publication_type%3A101)
- [Laws: amendments at a glance](/en_GB/markdownify/node/7174?f%5B0%5D=publication_type%3A104)
- [News](/en_GB/markdownify/node/7174?f%5B0%5D=publication_type%3A105)

 Facet Publication type detail

 



  Min  

 Max  

 







 

## News search engine