Is prevention the new focus of insolvency proceedings?

13th National Conference on Preventing Business Difficulties

Long viewed as merely a forum for negotiation aimed at avoiding the initiation of insolvency proceedings, prevention is now increasingly becoming a strategic prerequisite for such proceedings. In practice, it is often at an early stage that agreements are structured, the balance between creditors is established, and the future restructuring or turnaround plan is developed. This evolution raises a question: at a time of changes in domestic law and European influences, particularly through the so-called Insolvency III Directive adopted in March 2026, does prevention remain merely the precursor to insolvency proceedings, or has it now become their true core?