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CHAPTER 5

Text with EEA relevance.
Directive (EU) 2019/1023 of the European Parliament and of the Council of 20 June 2019 on preventive restructuring frameworks, on discharge of debt and disqualifications, and on measures to increase the efficiency of procedures concerning restructuring, insolvency and discharge of debt, and amending Directive (EU) 2017/1132 (Directive on restructuring and insolvency) (Text with EEA relevance.) · European Union

Member States shall ensure that, where there is a likelihood of insolvency, directors, have due regard, as a minimum, to the following: the interests of creditors, equity holders and other stakeholders; the need to take steps to avoid insolvency; and the need to avoid deliberate or grossly negligent conduct that threatens the viability of the business.

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Source: EUR-Lex (Cellar) · retrieved 2026-10-14 · Text as adopted (Official Journal); later amendments are not incorporated in this text.