German Insolvency Law Reform (ESUG): More Creditors’ Influence, More Debt-For-Equity Swaps, More Self-Administration?
On October 27, 2011, the German legislator passed the Law for the Further Facilitation of the Restructuring of Enterprises (Gesetz zur weiteren Erleichterung der Sanierung von Unternehmen, ESUG). ESUG is currently expected to become effective in the