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Restructuring proceedings – insights into a new development
Since July 17th, 2021, companies have been able to apply for a restructuring proceeding. The aim is to rescue companies facing financial difficulties and ensure their continued existence. The restructuring proceeding is designed to implement measures that prevent impending insolvency and restore the company to financial health.
“It’s like going to the dentist: Very often, clients with financial problems come to the lawyer far too late, so that restructuring proceedings are no longer possible because they are already insolvent.”
In view of the first restructuring proceedings initiated in Austria, Thomas Kurz, Partner and restructuring expert, was interviewed by the ORF (The Austrian Broadcasting Corporation) and the daily newspaper Die Presse.
All details on the topic can be found in the following contributions:
For more information on insolvency law and corporate reorganization, please visit: [link]
28. November 2024
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