- Launched a consultation on 23 March 2016 that ended on 14 June 2016.
- The Commission adopted its legislative proposal on business insolvency on 22 November 2016.
- Work at committee level (JURI) on-going.
- On 12 July 2017 the ECON Committee had an exchange of views on preventative restructuring frameworks, second chance and measures to increase the efficiency of restructuring, insolvency and discharge procedures.
- On 16 October 2017 the ECON Committee considered amendments to preventative restructuring frameworks, second chance and measures to increase the efficiency of restructuring, insolvency and discharge procedures.
- On 21 August 2018 the JURI Committee published their report on the proposal
- On 23 January 2019 after successful trilogue negotiations approval in committee of the text agreed with the Council and the Commission.
- On 28 March confirmation of the trilogue agreement in plenary.
- On 11 October 2018 the Council comes to a general agreement on the text.
- On 19 December 2019 the Council agrees at ambassador level to the text resulting from the inter-institutional negotiations (trilogues).
- Agreement reached in December 2019.
- On 6 May 2019, Council formally adopted the directive on preventing restructuring frameworks
- Publication in the Official Journal.