Worldwide: Insolvency/Bankruptcy/Re-Structuring

When a company enters bankruptcy proceedings within the European Union, insolvency practitioners must navigate a complex intersection of duties: administering the estate while ensuring strict compliance with GDPR requirements for processing personal data. The recent Co-Med healthcare bankruptcy in the Netherlands illustrates how modern insolvency practice requires careful handling of sensitive information, from medical records to employee data, while balancing statutory obligations with fundamental privacy

Where the company still has assets, liabilities or other matters to resolve, voluntary liquidation provides a formal way of bringing its affairs to an end. A licensed insolvency practitioner is appointed as liquidator to deal with outstanding liabilities, realise or distribute assets and complete the winding-up before dissolution.

Cyprus has enacted Law 112(I)/2026, introducing significant amendments to its Personal Insolvency Laws that broaden eligibility criteria for Debt Relief Orders and Personal Repayment Plans. The reforms strengthen protections for debtors and guarantors while simplifying evidential requirements, fundamentally reshaping how individuals can address overwhelming debt obligations.