The German Federal Civil Court (BGH) in its decision of 15 April 2010 (IX ZR 188/09) clarified the legal position of holders of preferred stock in insolvency plan proceedings.
Germany, Insolvency & Restructuring, Litigation, Squire Patton Boggs, Share (finance), Legal personality, Shareholder, Debtor, Dividends, Waiver, Liability (financial accounting), Liquidation, Joint-stock company, Preferred stock
As part of the German government’s costs savings package, a change in the German Insolvency Code may be implemented which will grant to the German fiscal authorities a preferred creditor status.
Germany, Insolvency & Restructuring, Tax, Squire Patton Boggs, Debtor, Unsecured debt, Budget, Preferred stock, Bundestag