Zivilrechtliche Haftungsrisiken des Sanierungsberaters

This doctoral thesis investigates the potential liability of reorganisation consultants to the advised company, its creditors, shareholders and managers.

The first main part outlines the substantive requirements for restructuring plans as evolved by the legal practice. The thesis examines to what extent these substantive requirements overlap with the standard set by the IDW 6 [directive issued by the Institute of Public Auditors in Germany].

Against this backdrop, the thesis analyses any contractual, quasi-contractual, and tort liabilities which can arise against reorganisation consultants prior to the commencement of formal insolvency proceedings. This part explores whether and to what extent insolvency consultants may contractually limit their liability. Finally, the author evaluates potential liability risks which might arise upon the commencement of formal insolvency proceedings, namely avoidance actions.