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to the point Finance - Q1 2021

Editorial | CEE

European Union, Insolvency & Restructuring, Schoenherr, Coronavirus, European Commission
Newsflash: Keine Macht dem hold-out - die neue Restrukturierungsordnung

Am 23.02.2021 wurde der lang erwartete Entwurf der Restrukturierungsordnung veröffentlicht. Mit dem Entwurf soll die Richtlinie (EU) 2019/1023 (RestrukturierungsRL) in Österreich umgesetzt werden.

Der Entwurf in 5 Fragen

Warum?

Erleichterung der Sanierung durch Möglichkeit einer gerichtlich bestätigten Mehrheitsentscheidung der Gläubiger.

Wer?

Austria, Insolvency & Restructuring, Schoenherr
Austria: Structural Innovation in Secured Syndicated Lending

The conundrum evolves

Austria, Banking, Insolvency & Restructuring, Schoenherr, Accounts receivable
Austria: new draft bill confirms bail-in protection for repos and securities lending transactions

Legal Status  

Austria, European Union, Banking, Capital Markets, Derivatives, Insolvency & Restructuring, Schoenherr
Troika to Cyprus: Drop Debt. Offshore comes Onshore.

BAIL-OUT DÉJÀ-VU

Cyprus, Insolvency & Restructuring, Schoenherr, Debt, Bail, ECB
Bondholders' rights in case of insolvency restricted by 1874 law

Introduction

On October 20 2010 insolvency proceedings were opened against A-TEC Industries AG, the Austrian holding company of industrial group A-TEC. With outstanding debt of around €650 million (including contingent claims), this insolvency is set to be the third-largest insolvency in Austria to date. Claims included around €300 million of bond debt (two convertible bonds and a corporate bond) issued by the company.

Austria, Insolvency & Restructuring, Litigation, Schoenherr, Bond (finance), Retail, Debtor, Consumer protection, Debt, Holding company, Corporate bond, Convertible bonds, Pro rata, Trustee