Mondaq All Regions - Germany: Insolvency/Bankruptcy/Re-structuring
Shearman & Sterling LLP
In many financial restructurings to date market participants had relied on the operation of the 2003 Circular...
Jones Day
Finally, section 143 of the Insolvency Code was amended to provide that interest accrues on a monetary avoidance judgment only after
Jones Day
The decision left open whether a contractually agreed-upon early termination right violates section 104.
Reed Smith (Worldwide)
On 16 December 2016 an act amending the insolvency laws applicable to financial derivatives transactions passed the Bundesrat (the second chamber of the German legislature).
Shearman & Sterling LLP
On 9 June 2016, the German Civil Supreme Court (Bundesgerichtshof) decided that close-out netting provisions contained in German law-governed framework agreements for financial derivative transactions.
Mayer Brown
In this White Paper we have summarized the basic principles and legal consequences of several challenge rights.
Reed Smith (Worldwide)
Generally, the effects of insolvency proceedings on agreements are governed by the law of the country where the proceedings are opened.
Taylor Wessing
In Germany, corporate entities are not allowed to act as insolvency administrators (sec 56 I 1 Insolvency Code).
Reed Smith (Worldwide)
German insolvency law, unlike US insolvency law, only recently introduced (in 2012) the so-called protective shield proceedings (Schutzschirmverfahren) to enable potentially illiquid and/or over-indebted debtors to restructure the company on the basis of a so-called insolvency plan.
Reed Smith (Worldwide)
You may have come across the following difficult phenomenon: your contractual counterparty is unable to pay outstanding debts when they become due.
Jones Day
On September 15, 2014, the German Federal Court of Justice (Bundesgerichtshof) published a landmark decision.
Mayer Brown
The insolvency challenge rights give the insolvency administrator, under certain prerequisites, access to assets which the debtor disposed of to the detriment of the creditors prior to the filing for insolvency, thus increasing the insolvency estate.
Reed Smith (Worldwide)
Under German insolvency law, it is unclear whether such clauses are valid and can be enforced in the case of an insolvency.
Jones Day
On July 25, the Higher Regional Court of Munich ruled that an irrevocable license does not become unenforceable in German insolvency proceedings.
Mayer Brown
The German Parliament has, in response to the ongoing crisis in the financial markets, extended a legislation, which originally came into force on October 18, 2008.
Latham & Watkins
We would like to introduce you to a great new feature of the revised German Insolvency Act which makes debt-equity-swaps in Germany (e.g., as part of loan-to-own transactions) a lot more attractive.
Fried Frank Harris Shriver & Jacobson
On March 1, 2012, the Act for the Further Facilitation of the Restructuring of Companies (ESUG) came into effect.
Oppenhoff & Partner Rechtsanwälte
Through the introduction of Sec. 225a of the German Insolvency Code [Insolvenzordnung, InsO] within the scope of the German Act to Further Facilitate the Restructuring of Enterprises [Gesetz zur weiteren Erleichterung der Sanierung von Unternehmen, ESUG], attention has now been drawn to debt-to-equity swaps.
Paul Hastings LLP
On March 1, 2012, the "Act Concerning the Improvement of Restructurings under German Insolvency Law" (ESUG) will come into force and effect.
Latham & Watkins
On 27 October 2011, the German Parliament ("Bundestag") finally passed the "Act for the Further Facilitation of the Restructuring of Companies" ("Gesetz zur weiteren Erleichterung der Sanierung von Unternehmen, ESUG", BT-Drs: 17/7511) (ESUG).
Most Popular Recent Articles
Shearman & Sterling LLP
In many financial restructurings to date market participants had relied on the operation of the 2003 Circular...
Jones Day
The decision left open whether a contractually agreed-upon early termination right violates section 104.
Jones Day
Finally, section 143 of the Insolvency Code was amended to provide that interest accrues on a monetary avoidance judgment only after
Reed Smith (Worldwide)
On 16 December 2016 an act amending the insolvency laws applicable to financial derivatives transactions passed the Bundesrat (the second chamber of the German legislature).
Taylor Wessing
In Germany, corporate entities are not allowed to act as insolvency administrators (sec 56 I 1 Insolvency Code).
Reed Smith (Worldwide)
Generally, the effects of insolvency proceedings on agreements are governed by the law of the country where the proceedings are opened.
Mayer Brown
In this White Paper we have summarized the basic principles and legal consequences of several challenge rights.
Shearman & Sterling LLP
On 9 June 2016, the German Civil Supreme Court (Bundesgerichtshof) decided that close-out netting provisions contained in German law-governed framework agreements for financial derivative transactions.
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