Restructuring proceeding

Restructuring proceeding

• Restructuring proceedings is an alternative to bankruptcy proceedings, provided that the debtor is in danger of going bankrupt or is already facing bankruptcy. The purpose of restructuring, unlike bankruptcy, is to save the existence and operation of a debtor who has run into financial difficulties, while at the same time achieving the highest possible satisfaction of creditors' claims. While the consequence of bankruptcy is usually the dissolution of the debtor (in the case of a legal entity), the restructuring presupposes the continued existence of the debtor, respectively his essential part.

News from Restructuring proceedings