From 4 August 2011 special insolvency rules now apply to those Hungarian companies which the Government classifies as “highly important” from a national economic perspective. Insolvency proceedings can be started as a special procedure.

Classification

The ongoing financial crisis has given rise to an increase in financial restructurings for many German companies, as a way of avoiding possible insolvencies. German companies have taken various approaches towards the painful process of restructuring. For instance, they have streamlined their operations, cut costs and raised capital.

We have seen an increasing number of pre-packs over recent years, how does a pre-pack work?

We are pleased to present this Summer 2011 edition of the CMS Restructuring and Insolvency in Europe Newsletter.

This guide provides a comparative analysis of certain key areas of law and procedure for those involved in or affected by financial distress of a corporation and the trading of distressed debt across Europe.