Preventive restructuring frameworks, second chance and measures to increase the efficiency of restructuring, insolvency and discharge procedures

This procedure concerns preventive restructuring frameworks, second chance and the efficiency of restructuring, insolvency and discharge procedures. It runs under the ordinary legislative procedure, so Parliament and the Council decide together and the outcome is binding EU law. It was handled by the Economic and Monetary Affairs, Employment and Social Affairs and Legal Affairs committees, in the field of company law. The tabled amendments frame the directive as removing obstacles to free movement of capital and freedom of establishment and contributing to a Capital Markets Union, add protection for workers' claims in employer insolvency, require workers to be informed and consulted during restructuring, and cover early warning tools, stays of enforcement and confirmation of restructuring plans. It shares subjects with related files including 'Harmonising certain aspects of insolvency law'.