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Insolvency & Restructuring

There are always a number of different reasons for an impending bankruptcy or a restructuring and the spectrum of legal remedies in this field is equally wide: employment law, commercial, distressed M&A, company law, property and construction law, insolvency and tax law, to name but a few.

Although your company may be struggling in the face of falling demand, powerful competitors and mounting payment obligations, there are many such cases where bankruptcy can be avoided. That is exactly the primary goal of our advisory services: re-alignment, not bankruptcy.

We have many years of experience advising on restructuring or bankruptcy cases. Using this experience, we can safely guide you through all of the stages of restructuring. But even in the case of a bankruptcy, we will of course be there to advise and support you. We believe that in such cases, our main responsibilities lie in the flawless preparation of an orderly bankruptcy, in assessing the obligation to file and its justification, in drafting the bankruptcy filing and the restructuring plan, in enforcing the rights of creditors or creditor groups during bankruptcy proceedings or in representation on the creditors' committee as well as in negotiating business continuation agreements with the bankruptcy administrator.

The range of our activities includes designing a socially acceptable redundancy plan, advising on the contractual protection of business partners in case of bankruptcy, advising on the purchase of at-risk companies, on the purchase and sale of distressed assets, on the limitation of liability risks for senior management and supervisory board members as well as on tax-relevant restructuring solutions.


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17/06/2021
Dav­id Kohl be­comes an at­tor­ney-at-law at CMS Vi­enna and con­tin­ues to fo­cus...
After about two and a half years as an as­so­ci­ate, Dav­id Kohl has been pro­moted to an at­tor­ney-at-law at CMS in Vi­enna. The ex­pert, who works in cor­por­ate/M&A and in­solv­ency & re­struc­tur­ing, par­tic­u­larly...
01/06/2021
Some leaks can­'t be fixed
“Con­fid­en­tial in­form­a­tion is like an ice cube... give it to the party who has no re­fri­ger­at­or or will not agree to keep it in one, and by the time of the tri­al you have just a pool of wa­ter.” This...
10/05/2021
Avoid crim­in­al li­ab­il­ity dur­ing the crisis
The COV­ID-19 pan­dem­ic has caused a ser­i­ous eco­nom­ic crisis in Aus­tria. Large cor­por­a­tions as well as in­di­vidu­al busi­nesses have been af­fected – es­pe­cially in the areas of gast­ro­nomy, ac­com­mod­a­tion...
02/02/2021
EC Con­sulta­tion on sus­tain­able cor­por­ate gov­ernance: dead­line ap­proach­ing
Key ac­tion point On 26 Oc­to­ber 2020, the European Com­mis­sion launched its pub­lic con­sulta­tion on sus­tain­able cor­por­ate gov­ernance (Con­sulta­tion). The Con­sulta­tion closes on 8 Feb­ru­ary 2021 and we would...
20/11/2020
Domin­ik Stella pro­moted to at­tor­ney-at-law for la­bour law and em­ploy­ee...
With Domin­ik Stella on board, CMS Vi­enna fur­ther ex­pands its core com­pet­en­cies in la­bour law. He com­bines leg­al ex­pert­ise with sound tech­nic­al know­ledge to provide cli­ents with tail­or-made sup­port and...
29/10/2020
CMS Em­ploy­ment Snack: Re­struc­tur­ing and Mass Re­dund­an­cies I Aus­tria
You missed the event? Find the re­cor­ded video and pod­cast here. The im­pact of Cov­id-19 on the glob­al eco­nomy poses sig­ni­fic­ant chal­lenges to nu­mer­ous com­pan­ies. Many are now forced to re­struc­ture their...
08/10/2020
Guide to Re­struc­tur­ing in CEE and Aus­tria
Re­struc­tur­ings, es­pe­cially those in­volving mul­tiple jur­is­dic­tions, are in­vari­ably com­plex mat­ters. In this CMS Guide, our ex­perts an­swer sev­en im­port­ant prac­tic­al ques­tions to help you nav­ig­ate through...
07/10/2020
Ger­many's Busi­ness Judge­ment Rule not ap­plic­able to in­solv­ency ad­min­is­trat­ors
In a re­cent de­cision, the Ger­man Fed­er­al Su­preme Court ad­dressed the ap­plic­ab­il­ity of the Busi­ness Judge­ment Rule to in­solv­ency ad­min­is­trat­ors in Ger­many and re­jec­ted the ap­plic­ab­il­ity of the rule in...
05/10/2020
Re­struc­tur­ing out­side of in­solv­ency pro­ceed­ings soon pos­sible for il­li­quid...
Fed­er­al Min­istry of Justice and Con­sumer Pro­tec­tion sub­mits draft bill on pre­vent­ive re­struc­tur­ing On 18 Septem­ber 2020, the Fed­er­al Min­istry of Justice and Con­sumer Pro­tec­tion sub­mit­ted a 247-page draft...
06/08/2020
Our Brand-New Bro­chure "Re­struc­tur­ing And In­solv­ency At A Glance - Cee"...
We are proud to present our in­ter­na­tion­al bro­chure Re­struc­tur­ing and In­solv­ency at a Glance – CEE. It cov­ers 11 jur­is­dic­tions in the CEE/SEE re­gion, in­clud­ing Aus­tria.It is be­lieved that the COV­ID-19...
17/07/2020
Re­build­ing and re­shap­ing in the af­ter­math of COV­ID-19
As Europe be­gins a tent­at­ive re-open­ing in the af­ter­math of COV­ID-19 CEE Leg­al Mat­ters in­ter­viewed two of CMS’ law­yers – one of them was Vi­enna-based Part­ner Daniela Ka­rol­lus-Bru­ner. The full art­icle...
16/07/2020
Re­struc­tur­ing and in­solv­ency at a glance – CEE over­view
While many spec­u­late that CEE has not been hit by the COV­ID-19 crisis as much as oth­er European coun­tries, due to fast re­ac­tions of the re­spect­ive gov­ern­ments and strict lock­downs, fisc­al ac­tions in­tro­duced...