. .1. はじめに Covid-19 の影響が残る 2020 年 6 月 26 日、英国新倒産法(Corporate Insolvency and Governance Act 2020)が施行され、英国 倒産法の大改正が実施されました。英国新倒産法の最大の目的は、債務者フレンドリーな倒産制度の確立にあります。欧州の ファイナンスのハブとして機能する英国は、これまでは比較的、債権者フレンドリーな倒産制度を採用していましたが、新倒産法に より方向転換が図られています。 本ニューズレターでは、ファイナンスの視点から、英国倒産法を概説すると共に、英国新倒産法によるファイナンス実務への影 響を考察します 1 。 2. 英国企業倒産手続及びその適用範囲 (1) 英国企業倒産手続とモラトリアム 英国の企業倒産手続には、主として①清算手続(Liquidation 又は Winding up)、②会社任意整理(Company Voluntary Arrangement)、③スキームオブアレンジメント(Scheme of Arrangement)、④会社管理手続(Administration)及び⑤財産管理手続 (Receivership)があります。
On 26 June 2020 the Corporate Insolvency and Governance Act 2020 (the Act) came into force. The Act included far-reaching wholescale reforms to the UK’s restructuring toolbox, including the introduction of the restructuring plan, which has the potential to be a gamechanger for restructurings.
It also included temporary measures dealing with COVID-19 impacts on companies. The two most significant temporary measures for companies facing financial difficulties as a result of the COVID 19 pandemic were:
Under section 64 of the German Companies Act (GmbHG), the managing director of a company is obliged to reimburse payments which have been made after the company becomes illiquid or over-indebted but not when the payments are made with the diligence of a prudent businessman. Such permitted payments include those that are necessary for production, internal operation, and the maintenance of the business concern.
1. Background: Temporary Modification of the German Insolvency Regime to avoid COVID-19-related Insolvencies in Germany expires on 30 September 2020
Viele Unternehmen sind pandemiebedingt in der Krise oder sogar in einer akuten Insolvenzgefahr. Die Bundesregierung hat die Insolvenzantragspflicht bereits im Frühjahr 2020 zunächst bis zum 30.09.2020 ausgesetzt. Dies galt für Unternehmen, die aufgrund der COVID-19-Pandemie von der Insolvenz bedroht sind bzw. waren.
Verlängerung der Frist zur Stellung des Insolvenzantrages
Nur bedingt geeignet für die Hotelbranche
Restructurings, especially those involving multiple jurisdictions, are invariably complex matters. This CMS Expert Guide provides an overview of the various restructuring possibilities available in a large number of countries, allowing you to compare how the options are deployed in these jurisdictions.
We intend to update it periodically to reflect important changes as they happen.
If you need more information or have any questions, please do not hesitate to contact us.
Background
Creditors of an insolvent entity file their claims against the entity with the insolvency administrator (Germany) or insolvency court (Austria). If a claim is accepted, it is registered in the insolvency table as an accepted claim and the creditor is listed as an insolvency creditor in the insolvency proceedings.
By order of the Commercial Court of Vienna from 30.11.2015, bankruptcy proceedings were opened against the assets of the food chain Zielpunkt GmbH. With liabilities amounting to approximately 237 million euros, the Zielpunkt insolvency is the biggest of 2015. Zielpunkt has 229 branches in total in Austria and employs 2708 employees. The insolvency administrator is trying to sell as many branches as possible. The acquisition of Zielpunkt branches by competitors, as by the two biggest grocers REWE and Spar, however, raises competition law concerns due to the large market share.
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.