Germany: Financial Restructuring

German insolvency law's principle of equal creditor treatment faces a critical challenge through Section 131 of the Insolvency Code, which addresses "incongruent coverage" - situations where creditors receive security or satisfaction they weren't entitled to receive, or not in that form or timing. The practical stakes are substantial: within the last month before insolvency filing, objective incongruence alone suffices for avoidance actions, with no requirement to prove the creditor's knowledge of the debto

When a contractor faces financial distress, companies often make direct payments to the contractor's upstream suppliers to maintain supply chain continuity.

Ich durfte mich als Teil eines starken CRO-Office-Teams, das einen Automobilzulieferer über zwei Jahre begleitet hat, um alle Elemente des Sanierungskonzeptes kümmern, die im weitesten Sinne mit M&A, also Unternehmens- bzw. Werks(teil)verkäufen zu tun hatten.