16 Amendments of Sven GIEGOLD related to 2016/0359(COD)
Amendment 131 #
Proposal for a directive
Article 2 – paragraph 1 – point 6
Article 2 – paragraph 1 – point 6
(6) 'class formation' means the grouping of affected creditors and equity holders in a restructuring plan in such a way as to reflect the rights and seniority of the affected claims and interests, taking into account possible pre-existing entitlements, liens or inter-creditor agreements, and their treatment under the restructuring plan. For the purpose of adopting a restructuring plan, creditors are divided into different classes of creditors, where as a minimum, secured and unsecured claims are treated in distinct classes, whilst workers constitute a separate class;
Amendment 143 #
Proposal for a directive
Article 3 – paragraph 2 a (new)
Article 3 – paragraph 2 a (new)
2a. The Commission shall: (a) issue a list of warning indicators, linked to set of actions to be performed by debtors and entrepreneurs in case these indicators are met; (b) centralise on their website the information laid down in paragraph 2 in a user-friendly way.
Amendment 146 #
Proposal for a directive
Article 3 – paragraph 3
Article 3 – paragraph 3
Amendment 175 #
3. Paragraph 2 shall not apply to workers' outstanding claims except if and to the extent that Member States ensure by other means that the payment of such claims is guaranteed at a level of protection at least equivalent to that provided for under the relevant national law transposing Directive 2008/94/EC.
Amendment 195 #
Proposal for a directive
Article 7 – paragraph 3
Article 7 – paragraph 3
3. Member States mayshall derogate from paragraph 1 where the debtor becomes illiquid and therefore unable to pay his debts as they fall due during the stay period. In that case, Member States shall ensure that restructuring procedures are not automatically terminated and that, upon examining the prospects for achieving an agreement on a successful restructuring plan within the period of the stay,authorise a judicial or administrative authority may decide to defer the opening of insolvency procedure and to keep in place the benefit of the stay of individual enforcement actions in order to examine the prospects for achieving an agreement on a successful restructuring plan within the period of the stay.
Amendment 219 #
Proposal for a directive
Article 9 – paragraph 1
Article 9 – paragraph 1
1. Member States shall ensure that any affected creditors have a right to vote on the adoption of a restructuring plan in full knowledge of the consequences it entails for each of them. Member States may also grant such voting rights to affected equity holders, in accordance with Article 12(2).
Amendment 225 #
Proposal for a directive
Article 9 – paragraph 2
Article 9 – paragraph 2
2. Member States shall ensure that affected parties are treated in separate classes which reflect the class formation criteria. Classes shall be formed in such a way that each class comprises claims or interests with rights that are sufficiently similar to justify considering the members of the class a homogenous group with commonality of interest. As a minimum, secured and unsecured claims shall be treated in separate classes for the purposes of adopting a restructuring plan. Member States mayshall also provide that workers are treated in a separate class of their own.
Amendment 259 #
Proposal for a directive
Article 16 – paragraph 2
Article 16 – paragraph 2
2. Member States may afford grantors of new or interim financing the right to receive payment with priority in the context of subsequent liquidation procedures in relation to other creditors that would otherwise have superior or equal claims to money or assets. In such cases, Member States shall rank new financing and interim financing at least senior to the claims of ordinary unsecured creditors without affecting the ranking of secured creditors.
Amendment 266 #
Proposal for a directive
Article 18 – paragraph 1 a (new)
Article 18 – paragraph 1 a (new)
Failure to comply with the above obligations shall be taken into account in determining the period and conditions of discharge, as provided for in Article 22, and can lead to disqualification orders for directors, which, if issued in one Member State, shall prevent the same person from undertaking managerial duties in undertakings based in other Member States.
Amendment 270 #
Proposal for a directive
Article 22 – paragraph 1 – point b a (new)
Article 22 – paragraph 1 – point b a (new)
(ba) directors have systematically failed to comply with their obligations, laid down in Article 18.
Amendment 279 #
Proposal for a directive
Article 25 – paragraph 2
Article 25 – paragraph 2
2. Member States shall encourage, by any means which they consider appropriate, the development of, and adherence to, voluntary codes of conduct by practitioners in the field of restructuring, insolvency and second chance, as well as other effective oversight mechanisms cset minimum binding standards for practitioners, such as training and professional qualifications, a registered status as a practitioncerning the, liability provisions of such servand a professional code of ethices.
Amendment 284 #
Proposal for a directive
Article 29 – paragraph 1 – subparagraph 1 – point g a (new)
Article 29 – paragraph 1 – subparagraph 1 – point g a (new)
(ga) the number of job losses, transfer of part or whole of the business, part redundancy, impact of restructuring agreements on employment, breaches of directors' obligations and the level of public finance.
Amendment 291 #
Proposal for a directive
Article 29 – paragraph 4 a (new)
Article 29 – paragraph 4 a (new)
4a. The Commission shall centralise on their website the information laid down in paragraphs 1, 2 and 3 in a public, free and user-friendly way.
Amendment 293 #
Proposal for a directive
Article 31 – paragraph 1 – introductory part
Article 31 – paragraph 1 – introductory part
1. This Directive shall be without prejudice to the following actse provisions of the following acts shall prevail over this Directive:
Amendment 296 #
Proposal for a directive
Article 31 – paragraph 1 – point c a (new)
Article 31 – paragraph 1 – point c a (new)
(ca) Directives 98/59/EC, 2001/23/EC, 2002/14EC, 2008/94/EC and 2009/38/EC and in particular the provisions on collective redundancies, workers' rights to constant information and consultation and in the case of transfers of undertakings.
Amendment 298 #
Proposal for a directive
Article 33 – paragraph 1
Article 33 – paragraph 1
No later than [5[3 years from the date of start of application of implementing measures] and every 75 years thereafter, the Commission shall present to the European Parliament, the Council and the European Economic and Social Committee a report on the application of this Directive, including on whether additional measures to consolidate and strengthen the legal framework on restructuring, insolvency and second chance should be considered including the availability of resources and of specialised courts.