The stationary retailer in insolvency - practical issues around the leased property

Author: Dr Christian Schmitt Published: ZIP - Zeitschrift für Wirtschaftsrecht Link: Tables of contents ( (Access for registered users only) Abstract: In the insolvency of a bricks-and-mortar retailer, the focus of the continuation of operations is on the leased branches. At the interface between insolvency law and tenancy law, the insolvency practitioner has to consider a multitude of legal pitfalls.

Duty of managing directors and advisors to identify crises at an early stage according to StaRUG

EXISTENZ MAGAZIN 2022 Dr Christian Schmitt: Since January 2021, it has been possible to restructure a company's finances outside of court proceedings, inspired by the British scheme of arrangement: the so-called restructuring procedure according to StaRUG. With this instrument, which is geared towards a financial reorganisation of the balance sheet by means of a haircut of existing liabilities (with the exception of personnel and pension liabilities), companies have the opportunity to reach an agreement with their creditors already at a pre-insolvency crisis stage [...].

New liability risk for managing directors: obligation for early crisis detection and crisis management

New liability risk for managing directors: obligation for early crisis detection and crisis management BayPapier aktuell/Dr. Christian Schmitt/27.01.2022: A new restructuring law, the so-called StaRUG, has been in force for about a year, or more precisely since 1 January 2021, which supplements the previously known options such as self-administration. This is intended to give companies the opportunity to agree with their creditors at a pre-insolvency crisis stage on a partial debt waiver and further restructuring contributions for the purpose of corporate restructuring, without [...]

ADLER Modemärkte's insolvency proceedings set standards in several respects

- Insolvency proceedings in self-administration successfully concluded only two months after opening and a good seven months after filing - Successful structured bidding process despite Corona lockdown - Takeover by Zeitfracht Group secures more than 2,600 jobs and enables payment of a recognisable quota to creditors - First loan from the Economic Stabilisation Fund (WSF) for companies in insolvency Munich, 31 August 2021 - The insolvency proceedings in self-administration, which were significantly supported by the law firm Gerloff Liebler Rechtsanwälte [...]

ADLER reaches key milestone for restructuring - creditors approve insolvency plan

More than 2,600 jobs and over 130 locations to be retained after implementation of investor concept Haibach near Aschaffenburg, 28 July 2021 - With their unanimous approval of the insolvency plan at the court discussion and voting meeting, the insolvency creditors of Adler Modemärkte AG have laid the key milestone for the successful repositioning of the fashion retailer. The Aschaffenburg District Court confirmed the insolvency plan, which can now be implemented. The aim is to complete the insolvency proceedings opened on 1 July 2021 in [...].

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