The impact of Covid-19 on the global economy poses significant challenges to numerous companies. Many are now forced to restructure their businesses to ensure their economic survival. Mass redundancies are often the consequence.
Our CMS Employment Snack Webinar and Podcast Series provides you with all you need to know about restructuring opportunities and the requisite legal framework when tackling this often daunting task.
Our many years of practical experience in this area allow us not only to advise you on the legal challenges of restructuring, but also to offer you practical guidance when designing and implementing these legally compliant restructuring measures.
Each webinar/ podcast is country-specific and addresses the relevant national legal framework.
Our Austrian “menu” covers:
- short time work, restructuring and other options
- works council involvement in drafting and implementing restructuring measures
- early warning system for mass redundancies
- social plans in the light of severely reduced economic capacities
- Q&A Session
Language : German
Speakers: Andrea Potz, Daniela Krömer and Christoph Wolf
Croatia and Slovenia
- What qualifies as a collective redundancy?
- How long does it last and how much does it cost?
- How should negotiations with the unions and works council be conducted?
- What legal and practical issues may arise during the process?
Speakers: Amela Žrt and Mia Kalajdžić
- When can the concept of “collective redundancy” be activated by employers in Slovakia
- What prior approvals from various authorities must be obtained? What are other obligations related to the process?
- Involvement of trade unions in collective redundancies – what difference does it make?
- What is the process timeline and costs, and what are the risks and sanctions for noncompliance with mandatory obligations?
Speakers: Sona Hankova, Natalia Janoskova
- Internal restructuring tips
- Requirements to mass redundancies
- Disputable issues and available case law
Speakers: Oleksandr Protsiuk, Oleksandra Prysiazhniuk
Here you can find more information about resources on restructuring
CMS Expert Guide to restructuring and insolvency law
This CMS Expert Guide provides an overview of the various restructuring possibilities available in a large number of countries, allowing you to compare how the options are deployed in these jurisdictions.
CMS Expert Guide to stabilisation and restructuring initiative
CMS has set up this guide covering some high-level advice on restructuring implications, available state measures and other important data.
Guide to Restructuring in CEE and Austria
In this CMS Guide, our experts answer seven important practical questions to help you navigate through the restructuring framework in eight CEE countries and Austria.
Restructuring and insolvency at a glance – CEE overview
We present the overview of most common concerns for CEE businesses in the transitioning phase, including red-flags for companies facing restructuring, options in terms of credit deferrals, and the measures in place for cost reduction.
EU Parliament adopts directive on preventive restructuring
The EU Parliament adopted the Directive on future "Preventive Restructuring Frameworks", which creates the basis for uniform preventive restructuring across the European Union and will fundamentally change how companies deal with financial difficulties and restructuring.
Ukraine temporarily amends bankruptcy procedures in response to COVID-19
On 17 October 2020, Ukraine enacted changes to the Code on Bankruptcy Procedures in order to protect businesses from the negative financial impact of COVID-19.
Turkey introduces restructuring possibilities for taxpayers
On 17 November 2020, Turkey enacted the Law on Restructuring of Certain Receivables and Amendment of Certain Laws No 7256, which allows the restructuring of certain public receivables and introduces several amendments to the tax legislation.
More publications related to restructuring you can find on our Law-Now news platform.