Fulltext Search
The projected insolvency law reform

On 23 February 2011, the Federal Government (Bundeskabinett) adopted the government draft (Regierungsentwurf) of an act (Entwurf eines Gesetzes zur weiteren Erleichterung der Sanierung von Unternehmen) that proposes material changes to the German Insolvency Act (Insolvenzordnung). The government's aim is to modify the economic terms for the restructuring of distressed companies .

Germany, Insolvency & Restructuring, Public, Squire Patton Boggs, Share (finance), Shareholder, Debtor, Market liquidity, Swap (finance), Debt, Economy
How rights of preferred stockholders are affected by insolvency plan proceedings – Garant

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
Proposed amendment to the German Insolvency Code – tax claims as preferred insolvency claims

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