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?
1.1 Corona Relief Fund (for more details check out our legal insight)
Status as of 17/02
Table of Content
- 1 Financial Support Measures
- 2 Capital Markets
- 3 Employment
- 4 Real Estate & Construction
- 5 Tax & Duties
- 6 Corporate, M&A
- 7 EU & Competition
- 8 Courts and Authorities
- 9 Healthcare
- 10 Insolvency & Restructuring
- 11 Insurance
- 12 Intellectual Property
- 13 Telecom & Data Protection
- 14 Other
1 Financial Support Measures
1. "German Scheme" available from 1 January 2021 in (slightly) modified form
The German Federal Parliament finally adopted the long-awaited bill to introduce a new pre-insolvency business stabilization and restructuring regime into German law.1 The new law was published in the German Federal Gazette on 29 December 2020 and will enter into force on 1 January 2021.
Status as of 3/11 11:40 am CET
Table of content
In several recent judgments in cases centring on complex commercial and regulatory disputes, the High Court has grappled with a number of important aspects of legal professional privilege under English law. Certain of these decisions, and their implications for parties to such disputes, are highlighted below.
Litigation privilege: sole or dominant purpose
October Bankruptcy Developments
In a victory for minority noteholders opposing an out-of-court restructuring of their distressed issuer, New York's highest court ruled last week that a holder's right to receive or sue for payment on its notes survived an exercise of statutory remedies by the trustee, conducted at the direction of a noteholder majority, that would have cancelled the holder's notes without its consent and replaced them with equity securities.
1. Background and Overview
As described in our Client Alert "The new German business stabilization and restructuring regime ("German Scheme")" dated 12 October 2020, the German Federal Ministry of Justice and Consumer Protection had presented a draft bill (the "Original Bill") to introduce a new business stabilization and restructuring framework - the new "German Scheme" - into German law.
The German Federal Ministry of Justice and Consumer Protection has recently presented the longawaited draft bill to introduce a new pre-insolvency business stabilization and restructuring regime into German law.1 The availability of this ground-breaking new "German Scheme" will significantly change the German restructuring landscape and elevate it to an internationally competitive level.