On March 1, 2012, new legislation came into force that bundles several German insolvency law reform efforts to make the restructuring of companies in financial crisis much easier.
The Act for the Further Facilitation of the Restructuring of Companies (ESUG) will increase the influence of creditors in insolvency proceedings; it is expected to reduce the numbers of companies going into liquidation in the future. It is also expected to make it easier to plan and predict the outcome of insolvency proceedings in Germany.
Please join Marco Wilhelm and Rainer Markfort from our German offices on April 12 when they will discuss these developments and their likely impact on the daily practice of insolvency in Germany.
Mayer Brown's Global Financial Markets Initiative helps clients deal with the legal and business challenges resulting from the ongoing turbulence in worldwide financial markets. By mobilizing the firm's global resources from multiple practices and offices, the Initiative provides clients with knowledgeable and timely counsel on a broad spectrum of their legal needs.