In June 2019, the European Union adopted the Directive on Preventive Restructuring Frameworks. The objective of the Directive is to introduce a level‐playing field across all Member States in the area of pre‐insolvency restructuring. Member States have until 2021 to transpose the Directive into their domestic insolvency regimes. In April 2019, the French legislator adopted the “Pacte Law”, whose aim is, inter alia, the transposition of the European Directive on Preventive Restructuring. Although five preventive restructuring tools already exist in the French regime, the transposition of the Directive will have an impact on current restructuring practices as it will require: (i) rebalancing the involvement and role of judicial authorities in preventive restructuring proceedings; and (ii) rebalancing the involvement of, and protection granted to, creditors.

中文翻译：

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将预防性重组指令2019转变为法国破产法：重新考虑法官的作用并平衡债权人的权利

2019年6月，欧洲联盟通过了《预防性重组框架指令》。该指令的目的是在破产前重组领域中为所有成员国引入一个公平竞争的环境。成员国必须在2021年前将指令转换成其国内破产制度。2019年4月，法国立法者通过了《契约法》，其目的尤其是对欧洲预防性重组指令的转变。尽管法国政权中已经存在五种预防性重组工具，但指令的移转将对当前的重组做法产生影响，因为它将需要：（i）重新平衡司法机构在预防性重组程序中的参与和作用；（ii）重新平衡以下方面的参与和给予的保护：