Preamble
Recitals 101
Title I - GENERAL PROVISIONS (Article 1-3) 3
Title II - PREVENTIVE RESTRUCTURING FRAMEWORKS (Article 4-19) 16
Title III - DISCHARGE OF DEBT AND DISQUALIFICATIONS (Article 20-24) 5
Title IV - MEASURES TO INCREASE THE EFFICIENCY OF PROCEDURES CONCERNING RESTRUCTURING, INSOLVENCY AND DISCHARGE OF DEBT (Article 25-28) 4
Title V - MONITORING OF PROCEDURES CONCERNING RESTRUCTURING, INSOLVENCY AND DISCHARGE OF DEBT (Article 29-30) 2
Title VI - FINAL PROVISIONS (Article 31-36) 6

best-interest-of-creditors test

Definitions over time (1)

16/07/2019 – today applies on 12/11/2026 Article 2, Directive (EU) 2019/1023 Scope: Whole act

1. For the purposes of this Directive, the following definitions apply:

‘best-interest-of-creditors test’ means a test that is satisfied if no dissenting creditor would be worse off under a restructuring plan than such a creditor would be if the normal ranking of liquidation priorities under national law were applied, either in the event of liquidation, whether piecemeal or by sale as a going concern, or in the event of the next-best-alternative scenario if the restructuring plan were not confirmed;