Germany and Austria: Muddied waters
It is common knowledge among professionals active in the German restructuring market that the country’s insolvency law is characterised by stringent insolvency filing obligations triggered not only by illiquidity, but also over-indebtedness. This sets Germany apart from other European jurisdictions and often strongly influences transaction structuring and timing.
A temporary change in Germany’s debt laws gives flexibility to companies struggling with insolvency, but Daniel Weiss reveals how the new rules leave much unclear
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