Die Kompetenzen innerhalb der GmbH bei der Sanierung im Schutzschirmverfahren

Especially due to the possibility of incorporating measures under company law into an insolvency plan drawn up in protective proceedings pursuant to Section 270b of InsO (Germany’s insolvency regulations), insolvency proceedings have been seen as a strategic option for an insolvent GmbH (the German equivalent of a limited company) since the ESUG (the German law intended to facilitate company restructuring) came into effect in 2012. However, the ‘Suhrkamp’ case has revealed that insolvency proceedings can turn out to be a ‘horror scenario’, particularly from the point of view of a non-executive (minority) shareholder. Whether this is actually the case also depends on the extent to which shareholders can influence a company’s restructuring in insolvency plan proceedings.
In this book, the author therefore examines the extent to which there is a shift in the distribution of responsibilities under company law in the respective stages of such insolvency proceedings. He shows that insolvency law should not have comprehensive priority over company law.