Formation of Classes in German Preventive Restructuring Frameworks under the StaRUG

• Autores: Dominik Skauradszun, Johannes Schröder
• Localización: Revista General de Insolvencias & Reestructuraciones: Journal of Insolvency & Restructuring (I&R), ISSN-e 2697-0953, Nº. 12, 2024, págs. 397-411
• Idioma: inglés
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• Resumen

  • The German transposing legislation for the Directive on preventive restructuring frameworks contains provisions concerned with the mandatory and optional formation of classes. The wording of the provision for optional class formation raises questions as to how certain prerequisites are to be understood. It is also unclear whether an unlawful (optional) formation of classes will always affect the restructuring undertaking in the same manner. This paper aims to provide some insight into these topics while giving an overview of case law and the legal literature concerned with this, in particular to solo-party classes. Furthermore, the possibilities of legal review and legal remedies regarding the formation of classes will be outlined.