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Directive (EU) 2019/1023 of the European Parliament and of the CouncilDangos y teitl llawn
Directive (EU) 2019/1023 of the European Parliament and of the Council of 20 June 2019 on preventive restructuring frameworks, on discharge of debt and disqualifications, and on measures to increase the efficiency of procedures concerning restructuring, insolvency and discharge of debt, and amending Directive (EU) 2017/1132 (Directive on restructuring and insolvency) (Text with EEA relevance)
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Changes over time for: TITLE IV
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EU Directives are being published on this site to aid cross referencing from UK legislation. After IP completion day (31 December 2020 11pm) no further amendments will be applied to this version.
TITLE IVU.K. MEASURES TO INCREASE THE EFFICIENCY OF PROCEDURES CONCERNING RESTRUCTURING, INSOLVENCY AND DISCHARGE OF DEBT
Article 25U.K.Judicial and administrative authorities
Without prejudice to judicial independence and to any differences in the organisation of the judiciary across the Union, Member States shall ensure that:
(a)
members of the judicial and administrative authorities dealing with procedures concerning restructuring, insolvency and discharge of debt receive suitable training and have the necessary expertise for their responsibilities; and
(b)
procedures concerning restructuring, insolvency and discharge of debt are dealt with in an efficient manner, with a view to the expeditious treatment of procedures.
Article 26U.K.Practitioners in procedures concerning restructuring, insolvency and discharge of debt
1.Member States shall ensure that:
(a)practitioners appointed by a judicial or administrative authority in procedures concerning restructuring, insolvency and discharge of debt (‘practitioners’) receive suitable training and have the necessary expertise for their responsibilities;
(b)the conditions for eligibility, as well as the process for the appointment, removal and resignation of practitioners are clear, transparent and fair;
(c)in appointing a practitioner for a particular case, including cases with cross-border elements, due consideration is given to the practitioner's experience and expertise, and to the specific features of the case; and
(d)in order to avoid any conflict of interest, debtors and creditors have the opportunity to either object to the selection or appointment of a practitioner or request the replacement of the practitioner.
2.The Commission shall facilitate the sharing of best practices between Member States with a view to improving the quality of training across the Union, including by means of the exchange of experiences and capacity building tools.
Article 27U.K.Supervision and remuneration of practitioners
1.Member States shall put in place appropriate oversight and regulatory mechanisms to ensure that the work of practitioners is effectively supervised, with a view to ensuring that their services are provided in an effective and competent way, and, in relation to the parties involved, are provided impartially and independently. Those mechanisms shall also include measures for the accountability of practitioners who have failed in their duties.
2.Member States shall ensure that information about the authorities or bodies exercising oversight over practitioners is publicly available.
3.Member States may encourage the development of and adherence to codes of conduct by practitioners.
4.Member States shall ensure that the remuneration of practitioners is governed by rules that are consistent with the objective of an efficient resolution of procedures.
Member States shall ensure that appropriate procedures are in place to resolve any disputes over remuneration.
Article 28U.K.Use of electronic means of communication
Member States shall ensure that, in procedures concerning restructuring, insolvency and discharge of debt, the parties to the procedure, the practitioner and the judicial or administrative authority are able to perform by use of electronic means of communication, including in cross-border situations, at least the following actions:
(a)
filing of claims;
(b)
submission of restructuring or repayment plans;
(c)
notifications to creditors;
(d)
lodging of challenges and appeals.
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