European Pre-Insolvency Proceedings

A primer for investors in distressed credits

DARREN AZMAN, BENEDIKT SCHULZ, AND MICHAEL GALEN, McDERMOTT WILL & EMERY

Recent draft-legislation in the European Union may significantly impact investors in distressed European credits. In order to promote investment in the European market, the European Commission issued a proposed directive on November 22, 2016 (COM(2016) 723), which is intended to harmonize the restructuring and insolvency regimes of EU member states by implementing regulations for pre-insolvency proceedings. The proposed legislation is currently being reviewed by the European Parliament and European...

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