Geschäftsleiterverantwortung bei wahrscheinlicher Insolvenz

The German StaRUG implements the centrepiece of the European Restructuring Directive: the preventive restructuring framework. Against the background of the Directive, a fundamental change in the pre-insolvency framework was required. At the same time, the Directive gave reason to rethink directors’ duties in the vicinity of insolvency: the strong emphasis on creditor interests suggests a shift of fiduciary duties known from Anglo-American law. The study examines the possibilities of implementing this in German law on a comparative law basis. It also addresses the question of the conformity of the StaRUG with the Directive and makes reform proposals for managerial responsibility in the run-up to insolvency.