A new law is targeted at improving the options to restore and save a company by means of insolvency proceedings: On March 1, 2012 the “Law to further facilitate the restoration of businesses” took effect, fundamentally reforming German insolvency law. The new legislation turns insolvency proceedings into an attractive alternative to extrajudicial restoration measures. PwC’s restoration and restructuring consultants offer assistance to businesses in all phases of a corporate crisis – including plan B considerations before insolvency as well as during the insolvency proceedings.
The “Law to further facilitate the restoration of businesses“, abbreviated as ESUG, offers businesses new options for restoration:
PwC’s interdisciplinary team of experts gives advice to all possible parties involved in the proceedings, during each phase of a corporate crisis – including plan B considerations before insolvency as well as during the insolvency proceedings. In case the crisis is so severe that initiating insolvency proceedings becomes an option, the parties in charge are faced with a number of decisions and tasks: Not only do they have to gain clarity on the actual financial situation; they also have to consider all possible options and alternatives as quickly as possible.
PwC’s specialists assist businesses in assessing if or at which point there are reasons for insolvency. They can pinpoint to options for restructuring by means of insolvency procedures as an alternative to extrajudicial restoration measures. They will keep an eye on timing, costs, recovery, and risks associated with each scenario in focus.
Depending on the requirements of the parties involved, PwC’s restructuring experts offer advice to businesses worldwide in the following areas:
PwC’s experts are highly experienced in all insolvency issues. They are familiar with the special features of insolvency and will work hard to achieve the best restructuring outcome for all parties involved – by means of insolvency proceedings or other available options.
Dr. Frank Girotto
Tel: +49 89 5790-6456