StaRUG – the first decisions are in

The StaRUG (the Geman implementation of the EU-Regulation on the “preventive restructuring framework”) has now been in force for three quarters of a year (see here) and the famous German shirtmaker Eterna is the first large and prominent company to undergo restructuring under the new law (see here, in German). Reason enough to take a … more

StaRUG – Restructuring Moderation, an option?

Even four and a half months after the German “Corporate Stabilisation and Restructuring Act” (“Unternehmensstabilisierungs- und -restrukturierungsgesetz”, “StaRUG”) came into force on 1 January 2021, reports of corresponding proceedings are (still?) limited (but see, for example, a decision by the Cologne District Court here, in German). However, the growing pressure to restructure after the final … more

StaRUG – how much “rescue” do you want?

Everyone is talking about restructuring, so I am too. In my small series of in-depth articles on the SanInsFoG in general and the StaRUG in particular (see already here and here), I will now deal with the aspect of what “depth of reorganisation” the StaRUG actually stipulates (with a small, but important for future case … more

StaRUG – a new star is born?

Hey, great that I may still experience this in my life-time! Almost ten years after my “Plädoyer für ein vorinsolvenzliches Sanierungsverfahren” (ZInsO 2011, 57, here, in German) and a good four years after my (rather rhetorical) question “Bedingt Sanierungsbereit?” (ZInsO 2016, 1778, here, in German), the has government (finally) finally presented the draft of the “Act on the Further … more

Turnaround – but with a plan, please!

„Plans are nothingplanning is everything“ Dwight D. Eisenhower The current economic situation (here), as well as the sharp rise in the number of corporate insolvencies in recent months (here, in German) prove that the German economy is in crisis mode. Of course, this crisis is not without consequences for individual companies. The following article explains … more

When the advisor “suddenly” warns…

“Just in time” for the upcoming economic crisis (see only here), the German higher courts are expanding the duties of advisors in general and lawyers in particular. After the BGH’ IXth Civil Senate had already tightened the liability of tax advisors with regard to omitted warnings of reasons for insolvency in a judgement from January … more