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Germany Commercial Bankruptcy

Hogan Lovells

Aggregate / Furst – Successfully disputing recognition of Restructuring Plan

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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

Herbert Smith Freehills Kramer

Crossing Jurisdictions - Dealing With Tenant Insolvency in the European and US Commercial Real Estate Markets

The global commercial real estate market paints a varied picture, with certain jurisdictions and sectors recovering quicker than others from the COVID-19 pandemic and continuing geopolitical uncertainty. Higher interest rates...more

Akin Gump Strauss Hauer & Feld LLP

Adler Restructuring Plan Set Aside: Reflections on the English Court of Appeal’s Landmark Ruling

In one of the most highly anticipated judgments in the European restructuring market in recent years, on 23 January 2024, the English Court of Appeal overturned the High Court’s decision sanctioning the Adler restructuring...more

Mayer Brown

The Right of Set-off in Insolvency Proceedings

Mayer Brown on

The right to set off a claim is a legal concept through which reciprocal claims between a creditor and a debtor company are settled against each other reducing or extinguishing the smaller claim and leaving only a balance...more

Hogan Lovells

New clarity for German insolvency proceedings - No extended realization rights

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In its decision of October 27, 2022 (IX ZR 145/21), the German Federal Court of Justice (BGH) ruled on a long-running dispute under German insolvency law. In its decision, the Court assumed that the insolvency administrator's...more

Hogan Lovells

Insolvenzen von Pflegeheimbetreibern – was passiert mit Oma, dem Miet-/Pachtverhältnis und dem Betrieb?

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In den letzten Wochen haben in Deutschland zwei größere Betreiber der stationären Pflege und von betreutem Wohnen Insolvenz angemeldet. Auch wenn dies aus unserer Sicht nur Einzelfälle sind und kein Krankheitssyndrom der...more

BCLP

New law to mitigate insolvencies in Germany

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Once again, since spring 2020, the German legislator is adapting fundamental provisions of German insolvency law. Find out here what this is about and what implications the changes have for enterprises....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

Hogan Lovells

Hotel contracts - Deferred or suspended rent due to Corona

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Does the owner bear the risk in case of bankruptcy? Due to the tense situation in the hotel industry, various lessees are currently approaching their lessors asking for deferral or abatement of rent payments for the...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

New German restructuring law finally comes into force

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As reported earlier, a new corporate restructuring law will be enacted in Germany. The new law's centerpiece will be the so-called stabilization and restructuring framework ("SRF")....more

Hogan Lovells

Das neue Restrukturierungsrecht ist da

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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

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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

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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

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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

Spirit Legal

Liability risks for companies in crisis and how to avoid them

Spirit Legal on

Incoming payments pose liability risks for GmbHs on the brink of insolvency - Generally speaking, payments made by customers and debtors are always welcome. Unfortunately though, if a GmbH (German limited liability company)...more

Robins Kaplan LLP

Financial Daily Dose 6.18.2020 | Top Story: SEC Intervenes to Halt Bankrupt Hertz’s Planned Stock Sales

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Some rare last-minute SEC intervention forced Hertz to suspend its planned sale of up to $500 million in shares of the bankrupt car-rental company while the agency undertakes a closer review of the offering....more

Morgan Lewis

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

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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

Robins Kaplan LLP

Financial Daily Dose 5.26.2020 | Top Story: Covid-19 Drives Already-Troubled Hertz to Bankruptcy

Robins Kaplan LLP on

Unable to reach a last-minute deal with investors, rental car mainstay Hertz filed for bankruptcy late Friday night, doing so “without a clear plan with creditors in place—a rare move for a company of its size.” Though, like...more

Hogan Lovells

Restructuring in the time of Corona: "German Chapter 11" – Restructuring under Plan Proceedings

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The huge economic impact of the worldwide COVID-19 pandemic has long since reached the German economy. For many industries, the business climate has deteriorated massively. Stores remain closed, supply chains are affected,...more

Morgan Lewis

Germany Makes Substantive Amendments to Insolvency Act Amid COVID-19

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In order to avoid a large number of corporate insolvencies, the German Parliament adopted a law on March 25 to mitigate the consequences of the coronavirus (COVID-19) pandemic in civil, insolvency, and criminal procedural...more

K&L Gates LLP

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

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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

McDermott Will & Schulte

Bundestag hat vorübergehende Aussetzung der Insolvenzantragspflicht beschlossen

Der Bundestag hat am 25. März 2020 den von der Bundesregierung eingebrachten Gesetzesentwurf zur Abmilderung der Folgen der COVID-19-Pandemie im Insolvenzrecht beschlossen. Die Entscheidung des Bundesrates ist für den 27....more

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