News & Analysis as of

Commercial Bankruptcy Germany Debt Restructuring

Hogan Lovells

Aggregate / Furst – Successfully disputing recognition of Restructuring Plan

Hogan Lovells on

Project Fürst purported to restructure its liabilities of over EUR 1 billion, for which the developer relocated to London in order to implement a “Restructuring Plan” under the English Part 26A regime. The Restructuring Plan...more

Hogan Lovells

Munich I Regional Court declares Wirecard’s annual financial statements null and void – what happens now?

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Wirecard's insolvency administrator has won a first victory before the Munich I Regional Court. On 5 May, the court declared the annual financial statements for 2017 and 2018, which show balance sheet profits totalling around...more

White & Case LLP

On 1 January 2021 the Corporate Stabilisation and Restructuring Act (StaRUG) has come into force and introduced the new...

White & Case LLP on

Prior to the introduction of the Preventive Restructuring Framework by the StaRUG out-of-court restructurings in Germany other than the restructuring of German law-governed bonds generally required unanimous approval by all...more

Hogan Lovells

Das neue Restrukturierungsrecht ist da

Hogan Lovells on

Wie bereits berichtet erhält Deutschland ein neues Restrukturierungsrecht für Unternehmen, dessen Herzstück der sogenannte Stabilisierungs- und Restrukturierungsrahmen („SRR“) ist. Der Bundestag hat das entsprechende Gesetz...more

Latham & Watkins LLP

German Bundestag Passes Comprehensive Reform in Restructuring and Insolvency Law

Latham & Watkins LLP on

Through implementing the EU Restructuring Directive, German restructuring and insolvency law will be modernized, more effective, and enriched by new instruments. On 17 December 2020, the German Bundestag passed the Act on...more

Hogan Lovells

Zahlungen bei Insolvenzreife nach neuem § 15b InsO-E

Hogan Lovells on

Das Gesetzgebungsverfahren zum Gesetz zur Fortentwicklung des Sanierungs- und Insolvenzrechts („SanInsFoG“) schreitet in beachtlicher Geschwindigkeit voran. Seit 14. Oktober 2020 liegt der Regierungsentwurf („RegE“) vor....more

Hogan Lovells

New ways of restructuring in Germany

Hogan Lovells on

Germany's new restructuring regime is expected to come into force 0n 1 January 2021. At the heart of the new regulation is the introduction of a so-called stabilization and restructuring framework (“SRF”) for companies....more

A&O Shearman

The German StaRUG-Scheme: Act on the Stabilisation and Restructuring Framework for Businesses

A&O Shearman on

A short bullet point summary of the new StaRUG-Scheme and a non-reliance translation of the draft bill for the StaRUG-Scheme from German into English based on the preliminary text of the new draft legislation. ...more

Hogan Lovells

Neue Möglichkeiten der Restrukturierung

Hogan Lovells on

Deutschland erhält ein neues Restrukturierungsrecht, und zwar voraussichtlich ab 1. Januar 2021. Herzstück der im aktuellen Gesetzesentwurf vorgesehenen Neuregelungen ist die Schaffung des sogenannten Stabilisierungs- und...more

Morgan Lewis

‘Germany’s Chapter 11’: Protective Shield Proceedings Increase with COVID-19 Insolvencies

Morgan Lewis on

As the economic effects of the coronavirus (COVID-19) pandemic continue to be felt, Germany’s protective shield proceeding under Section 270b of the Insolvency Code is a way for companies to restructure under the direction of...more

K&L Gates LLP

COVID-19: Changes to Insolvency and Restructuring Related Regulations in Germany

K&L Gates LLP on

The German federal government is currently preparing new legislation to reduce the economic fallout from the COVID-19 pandemic. This news alert deals with the proposed changes to the insolvency and restructuring related...more

Latham & Watkins LLP

Remedy for Managing Directors in the Time of COVID-19: Suspension of insolvency filing obligations and limitation of liability...

Latham & Watkins LLP on

The Federal Ministry of Justice and Consumer Protection (BMJV) now implements, with great commitment and unprecedented speed, what it has generally announced on 16 March 2020: ..The suspension of the obligation to file for...more

Robins Kaplan LLP

Your Daily Dose of Financial News

Robins Kaplan LLP on

Instagram co-founders Kevin Systrom and Mike Krieger have resigned over the direction of their app, which Facebook acquired in 2012. The pair has reportedly been frustrated of late by the increasing intervention of Facebook’s...more

Jones Day

The Year in Bankruptcy: 2017

Jones Day on

The initial year of the Trump administration colored much of the political, business, and financial headlines of 2017, both in the U.S. and abroad. Key administration-related developments in 2017 included U.S. withdrawal from...more

Latham & Watkins LLP

European Restructuring Landscape Improves with Multiple Reforms

Latham & Watkins LLP on

In light of the UK’s cram down and director-friendly processes, in particular its scheme of arrangement model, major European economies such as France, Germany and Italy have worked hard to develop regimes that give greater...more

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