Directive (EU) 2019/1023 set a common European direction for preventive restructuring, but its implementation across Estonia, Latvia and Lithuania shows how much national legal design still matters.

While the Baltic States share the same broader EU logic, their practical approaches differ: from Estonia’s court-integrated restructuring model, to Latvia’s development of existing Legal Protection Proceedings, and Lithuania’s more court-focused reform of legal entity insolvency rules.

For businesses, creditors and practitioners, these differences are particularly relevant in cross-border restructuring.