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Vol 23 (2026) - Issue 5
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EU Directive on Insolvency Harmonisation: What Does This Mean for Germany?
Dr Andrea Soprano, Counsel, and Prof. Dr Artur M. Swierczok, Counsel, Baker McKenzie, Frankfurt am Main, GermanySynopsis
On 5 December 2025, the competent bodies of the European Union agreed on a compromise text concerning the Directive on the harmonisation of certain
aspects of insolvency law ('Directive') (the text is currently only available in English). The aim of the Directive is to remove obstacles to the single (European) market and the capital markets that arise from differing national insolvency rules. This represents a further step towards the substantive harmonisation of insolvency proceedings in the EU Member States.
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