Vorinsolvenzlicher Restrukturierungsrahmen für Deutschland unter dem Einfluss der EU-Restrukturierungsrichtlinie

Under the political pressure of the COVID-19 pandemic, the German legislature implemented the EU Restructuring Directive at record speed with the StaRUG, thus creating for the first time a legal framework for corporate restructuring outside of insolvency proceedings. This study examines the highly topical transposition act in terms of its practical suitability and, on the basis of remaining regulatory gaps, develops an alternative doctrinal and structural approach that initiates further reform debates in the upcoming evaluation process. The author concludes that, de lege ferenda, German restructuring law should be enriched by a minimally invasive contractual framework that offers SMEs in particular a quick and cost-effective alternative.