A new approach to business failure and restructuring: pre-insolvency restructuring vs. early filing in Germany | Practical Law

A new approach to business failure and restructuring: pre-insolvency restructuring vs. early filing in Germany | Practical Law

On 12 March 2014, the European Commission issued a Recommendation for a new approach to business failure and insolvency to be adopted by EU member states. This article outlines: • The Commission's Recommendation. • The approach to pre-insolvency restructuring solutions under German legislation. • The German approach to restructuring businesses in practice. • The likelihood of reform to German restructuring law following the Recommendation.

A new approach to business failure and restructuring: pre-insolvency restructuring vs. early filing in Germany

by Michael Thierhoff and Renate Müller, Thierhoff Mueller
Law stated as at 01 Jul 2014 • Germany
On 12 March 2014, the European Commission issued a Recommendation for a new approach to business failure and insolvency to be adopted by EU member states. This article outlines: • The Commission's Recommendation. • The approach to pre-insolvency restructuring solutions under German legislation. • The German approach to restructuring businesses in practice. • The likelihood of reform to German restructuring law following the Recommendation.
This article is part of the multi-jurisdictional guide to restructuring and insolvency law. For a full list of jurisdictional Q&As visit www.practicallaw.com/restructure-mjg.