Germany: Financial Restructuring

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Insolvency law and bankruptcy law articles, thought leadership, podcasts, videos and webinars from expert sources across the legal world. Explore insights covering topics surrounding financial restructuring, insolvency and bankruptcy.
Article
Why Fix-Sell-Close Decisions Should Be Evaluated Concurrently And Not Sequentially
CEOs and their executive teams face a critical misalignment in assessing market pressures, creating governance challenges that demand a fundamental rethinking of portfolio management. This article examines why the traditional sequential approach to evaluating underperforming business units destroys value and presents a concurrent decision framework that treats fix, sell, and close options as simultaneous strategic choices rather than a process of elimination.
Germany Commercial
A
AlixPartners
Article
EU Adopts Directive On The Harmonization Of Insolvency Law: Key Aspects And Implications For Germany
The European Union has formally adopted a directive establishing minimum standards for insolvency law harmonization across Member States, covering avoidance actions, asset tracing, pre-pack proceedings, director filing duties, creditors' committees, and transparency measures. While the directive sets baseline requirements in these critical areas, its practical impact on German insolvency law is expected to be limited, as Germany's existing framework already meets or exceeds most of the directive's standards
Germany Insolvency
JD
Jones Day
Article
The Acquirer Concept – An Option For Acquisitions Out Of Insolvency
The acquisition of assets or business operations out of insolvency proceedings presents distinct legal challenges under German law, particularly regarding the automatic transfer of employment relationships. The "acquirer concept" (Erwerberkonzept) offers a legally reliable solution that enables workforce restructuring while avoiding prohibited terminations based solely on the transfer of operations.
Germany Insolvency
MB
Mayer Brown
Article
"Cram Down" – Cross-Class Plan Approval In Insolvency Proceedings
Pre-insolvency restructurings can fail when individual creditors block viable solutions to negotiate better outcomes. The insolvency plan's cram-down mechanism enables court confirmation despite dissenting votes, provided dissenting groups receive legal protection and aren't unduly disadvantaged. Understanding cram-down logic helps stakeholders assess restructuring options and risks before insolvency occurs.
Germany Insolvency
MB
Mayer Brown
Aufsichtsräte Be Aware!" href="/germany/corporate-governance/1347660/esg-in-times-of-crisis-should-governance-be-replaced-by-compliance-%3ci%3eaufsichtsr%c3%a4te%3ci%3e-be-aware" target="_self">
Article
ESG – In Times Of Crisis Should "G"overnance Be Replaced By "C"ompliance? Aufsichtsräte Be Aware!
The Management Board (der Vorstand) must initiate appropriate means and measures to recognize any damaging developments that might threaten the survival of the company.
Germany Commercial
RF
Rimon Falkenfort
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