Preventive restructuring, second chance and efficient restructuring, insolvency and discharge procedures

24-05-2017

This Commission impact assessment is based on a wealth of information drawing from both research and consultation. Research quoted spans the last decade and encompasses international organisation, academic and think tank work. The consultation performed by the Commission has been essential to prioritising the issues to be further harmonised and in choosing the detailed sub-options. Among the strengths of the IA, there is a genuine attempt to comply as much as possible with the Commission Better Regulation Guidelines and transparency in providing information. This is particularly evident in the broad range of options presented and in the presentation of the territorial impacts of the initiative. In this regard, for instance, the IA provides a useful legal analysis of the most important issues for most Member States. Nevertheless, economic impacts appear to be analysed more in depth than social and employment outcomes. Among the additional weaknesses, the numerous objectives identified are not time-bound and may be difficult to measure. Finally, although the IA states that Member States should not incur significant monitoring costs, the requirements in the IA appear to be shorter and less detailed than the ones in the Commission proposal.

This Commission impact assessment is based on a wealth of information drawing from both research and consultation. Research quoted spans the last decade and encompasses international organisation, academic and think tank work. The consultation performed by the Commission has been essential to prioritising the issues to be further harmonised and in choosing the detailed sub-options. Among the strengths of the IA, there is a genuine attempt to comply as much as possible with the Commission Better Regulation Guidelines and transparency in providing information. This is particularly evident in the broad range of options presented and in the presentation of the territorial impacts of the initiative. In this regard, for instance, the IA provides a useful legal analysis of the most important issues for most Member States. Nevertheless, economic impacts appear to be analysed more in depth than social and employment outcomes. Among the additional weaknesses, the numerous objectives identified are not time-bound and may be difficult to measure. Finally, although the IA states that Member States should not incur significant monitoring costs, the requirements in the IA appear to be shorter and less detailed than the ones in the Commission proposal.