Restructuring instead of closing

Now also available to listen to: In “Restructuring instead of closing” we look at the options for preventing and managing crises, focusing on company restructuring with and without the aid of insolvency proceedings. Furthermore, we provide valuable recommendations for action.

Sanieren statt schließen: (Kein) Ende der Aussetzung der Insolvenzantragspflicht (in German)
CMS partner Dr Alexandra Schluck-Amend and Dr Veronika Hefner, both lawyers in the Restructuring and Insolvency practice in Stuttgart, deliver a concise summary of everything you need to know about the suspension of the obligation to file for insolvency in this second instalment of the “Restructuring instead of closing” series. In response to the COVID-19 pandemic, the German parliament suspended the insolvency filing obligation from 1 March 2020 to 30 September 2020 and then extended the suspension for over-indebted companies until 31 December 2020. Due to delays in paying out financial assistance in November and December 2020, the insolvency filing obligation is again suspended for certain companies in January 2021. Subject of this episode is the background to suspension of the obligation to file for insolvency, the companies to which it applies and who remains obliged to file for insolvency.

Sanieren statt schließen: Der neue Stabilisierungs- und Restrukturierungsrahmen (in German)
In the opening podcast of the “Restructuring instead of closing” series, CMS partner Dr Alexandra Schluck-Amend and Dr Veronika Hefner, both lawyers in the Restructuring and Insolvency practice in Stuttgart, present the new Act on the Stabilisation and Restructuring Framework for Businesses (StaRUG). The law came into force on 1 January 2021 and enables imminent illiquid companies to be restructured, with creditors being included even against their will. This episode is devoted to the main features, advantages, disadvantages and future opportunities of this new restructuring option.