News & Analysis as of

Insolvency Germany

McDermott Will & Emery

Das StaRUG und dessen Bedeutung für die Restrukturierung von Immobiliengesellschaften – Die wichtigsten Fragen und Antworten

McDermott Will & Emery on

Insolvenzanträge von namhaften Projektentwicklern und Immobiliengesellschaften stellen die betroffenen Unternehmen und ihre Gläubiger vor große Herausforderungen und setzen die gesamte Immobilienbranche unter Druck....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

EU-Richtlinienvorschlag zur Harmonisierung des Insolvenzrechts

Hogan Lovells on

Nach der Implementierung des StaRUG-Verfahrens in 2021 zeichnet sich abermalig die Einführung eines neuen sanierungsrechtlichen Verfahrens ab. Auch wenn der europäische Gesetzgebungsprozess sich noch in einem frühen Stadium...more

Hogan Lovells

New clarity for German insolvency proceedings - No extended realization rights

Hogan Lovells on

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?

Hogan Lovells on

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

Latham & Watkins LLP

StaRUG in Practice: German Scheme Expands Restructuring Options for Debtors

Latham & Watkins LLP on

The scheme offers a credible implementation alternative, but no “one size fits all” solution exists for German credits. German credits in sectors such as real estate, automotive, and energy face a worsening macro...more

BCLP

New law to mitigate insolvencies in Germany

BCLP on

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

A&O Shearman

German Insolvency Law adjusted to uncertain times

A&O Shearman on

Temporary shortening of the forecast period relating to the over-indebtedness check and other changes until 31 December 2023. ...more

White & Case LLP

Jurisdiction in insolvency proceedings: unchartered territory beyond Galapagos

White & Case LLP on

While the timing of competing English and German insolvency applications in Re Galapagos1 allowed for clear determination of jurisdiction under the UK Insolvency Regulation, there remains potential uncertainty as to how...more

Latham & Watkins LLP

UK and European Restructuring Tools: Choosing the Optimal Forum for Creditor and Shareholder Cramdown

Latham & Watkins LLP on

Debtors and investors have an enhanced choice of restructuring venues as the EU Restructuring Directive is rolled out in Member States - A number of key European jurisdictions have now implemented the EU Preventive...more

Hogan Lovells

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

Hogan Lovells on

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

Insolvenz in Eigenverwaltung – Success Hotel Management GmbH als ein mögliches Modell? Die anhaltenden Auswirkungen der...

Hogan Lovells on

Über zwei Jahre nach Ausbruch der Covid-19-Pandemie sind deren Auswirkungen auf die deutsche Wirtschaft immer noch deutlich spürbar. Insbesondere die Hotelbranche ist von der sogenannten 4. Welle, den derzeitigen...more

McDermott Will & Emery

Betriebsvermögen im Erbschaftsteuer- und Schenkungsteuergesetz

McDermott Will & Emery on

Viele Familienunternehmen kämpfen aktuell mit den Folgen der Corona-Pandemie und stehen vor einer ungewissen Zukunft. Familienunternehmen, deren Gesellschaftsanteile in den letzten Jahren steuerbegünstigt übertragen wurden,...more

Latham & Watkins LLP

Aufatmen bei Unternehmensleitern und Insolvenzverwaltern: Bundesgerichtshof bestätigt D&O-Deckung bei Insolvenzverschleppung

Latham & Watkins LLP on

Der Bundesgerichtshof (BGH) hat mit Urteil vom 18. November 2020 (IV ZR 217/19) entschieden, dass Ansprüche gegen GmbH-Geschäftsführer auf Ersatz von Zahlungen, die nach Insolvenzreife vorgenommen wurden, vom...more

Hogan Lovells

Hotel contracts - Deferred or suspended rent due to Corona

Hogan Lovells on

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

K&L Gates LLP

German Act on the Further Development of Restructuring and Insolvency Law (SanInsFoG)

K&L Gates LLP on

A comprehensive change to German insolvency and restructuring law has become effective starting 1 January 2021. The change allows that a company's reorganization is possible without insolvency and includes the majority...more

Latham & Watkins LLP

How will StaRUG help German companies address the impact of COVID-19?

Latham & Watkins LLP on

Looking back at the last few months, the COVID-19 pandemic has hit many companies hard and amplified disruptive trends in various sectors. In addition to other measures to address COVID-19 impact on businesses, Germany has...more

Hogan Lovells

New German restructuring law finally comes into force

Hogan Lovells on

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

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

McDermott Will & Emery

Special Report - Out-of-Court Restructuring Alternatives in the European Union, Germany and the United States - November 2020

McDermott Will & Emery on

The Coronavirus (COVID-19) pandemic has had a huge impact on the global economy and most businesses, creating thousands of companies with urgent restructuring needs. Restructurings are ideally carried out early, quietly, and...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

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