Article 51 — Key information factsheet

1. Without prejudice to paragraph 10, by 22 July 2029 each Member State shall draw up a key information factsheet on essential elements of national law on insolvency proceedings (the key information factsheet) and submit it to the Commission through the European e-Justice Portal. 2. Key information factsheets shall be drawn up in an official language of the institutions of the Union. 3. The content of key information factsheets shall be concise, accurate, clear and non-technical and shall be set out in a factual manner. 4. Key information factsheets shall include the following sections in the following order: (a) the conditions for the opening of insolvency proceedings; (b) the rules governing the lodging, verification and admission of claims; (c) the rules governing the ranking of creditors’ claims and the distribution of proceeds from the realisation of assets ensuing from the insolvency proceedings; (d) the average reported length of insolvency proceedings, as referred to in Article 29(1), point (b) of Directive (EU) 2019/1023. 5. The section referred to in paragraph 4, point (a), shall include: (a) the list of persons that can request the opening of insolvency proceedings; (b) the list of conditions that trigger the opening of insolvency proceedings; (c) how and where to submit a request for the opening of insolvency proceedings; (d) how and when the debtor is notified of the decision on whether to open insolvency proceedings. 6. The section referred to in paragraph 4, point (b), shall include: (a) the list of persons that can lodge a claim; (b) the list of conditions for lodging a claim; (c) the time limit for lodging a claim; (d) how to obtain the form for lodging a claim, if applicable; (e) how and where to lodge a claim; (f) how the claim is verified and validated. 7. Member States shall update the information referred to in paragraph 4 within one month of the entry into force of any relevant amendments to national law. Key information factsheets shall contain the following statement: This key information factsheet is accurate as at … [the date of submission of the information to the Commission or the date of the update]. 8. The Commission shall ensure that key information factsheets are available to the public in English, French and German and the original language, if different, on the European e-Justice Portal under the insolvency/bankruptcy section for each Member State. 9. The Commission shall be empowered to modify the format of the key information factsheet by way of implementing acts. Those implementing acts shall be adopted in accordance with the examination procedure referred to in Article 53(2). 10. Member States where Regulation (EU) 2015/848 is applicable shall provide the key information factsheet referred to in paragraph 1 of this Article through the European Judicial Network in civil and commercial matters established by Decision 2001/470/EC in a manner consistent with Article 86 of that Regulation.