Insolvency filing obligation in force again without restriction
Pursuant to Section 15a InsO or Section 42(2) BGB, the legal representatives of German corporations and associations are obliged to file an insolvency petition when their organization is practically insolvent. This obligation had been... read more
Insolvency Suspension Act extended until April 30, 2021
The COVID19-Insolvency Suspension Act (COVInsAG) to mitigate the consequences of the COVID-19 pandemic in civil, insolvency and criminal procedural law, is entering into overtime. Having already been extended twice, the regulations, which were initially... read more
In-house counsel recommend PASCHEN as a TOP law firm in Insolvency law
PASCHEN Rechtsanwälte was once again placed highly in this year’s review by the Deutschen Institut für Rechtsabteilungen und Unternehmensjuristen (diruj).
Leading law firm & leading lawyer in insolvency law
In the never-ending story of insolvency... read more
Statement on the public hearing on Insolvency Law of the German-French Parliamentary Assembly
- Author: RA Lutz Paschen
- Source: Statement on the hearing on 01.03.2021 in the framework of the working group “Harmonization of German and French Business and Insolvency Law” (HWIR)
SanInsFoG: How the new pre-insolvency restructuring procedure works and what creditors should pay particular attention to
- Author: RA Lutz Paschen
- Source: ServiCon Anwaltsnetz
The German legislator passed the Act on the Further Development of Restructuring and Insolvency Law (SanInsFoG) at record speed and fundamentally reformed the German insolvency and restructuring law. A large part of the new regulations already came into force on January 1, 2021.
In a webinar on February 11, the Gesamtverband textil+mode will provide information on the new stabilization and restructuring framework and explain what innovations textile and fashion companies will face. Speaker is our founding partner RA Lutz Paschen, who was also invited as an expert at the hearing in the legal committee of the Bundestag on the new law.
Deutscher Bundestag, Paul-Löbe-Haus (PLH), Konrad-Adenauer-Str. 1 (opposite Bundeskanzleramt)
Bundestags Ausschuss - French-German Parliamentary Assembly
Our partner RA Lutz Paschen will participate as an expert in the public hearing of the working group “Harmonization of German and French Business and Insolvency Law” (HWIR) set up by the French-German Parliamentary Assembly.
There will be a hearing of German and French experts on the topics of company and insolvency law and impulses will be given for the harmonization of German and French business and insolvency law.
The third meeting of the HWIR working group will take place on 1 March 2021 in the form of a hybrid video conference.
DEUTSCHE KONGRESS GmbH
The Act on the Stabilization and Restructuring Framework for Companies (StaRUG) in the newly adopted Act on the Further Development of Restructuring and Insolvency Law (SanInsFog) have priority and can be found there under Article 1, which creates a formal procedure for pre-insolvency restructuring for the first time. The amendments to the Insolvency Act made in Article 5 SanInsFoG implement the results of the ESUG evaluation legally and the amendments to COVInsAG regulated in Article 10 SanInsFoG introduce special temporary insolvency law provisions to deal with the economic consequences of the Corona pandemic in 2021.
In particular, the webinar will cover the following topics:
- Overview of the main innovations
- Procedure of pre-insolvency reorganization according to StaRUG
- Restructuring moderation according to §§ 94 ff. StaRUG
- How to be overruled as a creditor (so-called cram-down)
- What creditors should do who are affected by a stabilization arrangement
- How restructuring creditors should prevent the risk of avoidance at a later date
- How the amendments to COVInsAG will affect insolvency proceedings filed in 2021
- 16.02.2021 Online-Seminar
- 25.03.2021 Online-Seminar
Neue DEUTSCHE KONGRESS GmbH
This seminar looks at insolvency proceedings from the creditor’s perspective. Topics include: How to identify and avoid insolvency at an early stage; what insolvency avoidance is; and how to limit the risk of avoidance. Special attention will be paid not only to the reform of avoidance law in 2017 but also to the regulations of the COVID-19-Insolvency Suspension Act COVInsAG and and other special pandemic-related regulations such as the SanInsFoG, which came into force on 1 January 2021.
- The course of insolvency proceedings and economic interrelationships.
- Insolvency plan proceedings / protective shield proceedings Powers/liability of the parties involved
- Special features of self-administration Creditors’ participation rights
- Business with companies in preliminary insolvency proceedings
- Avoidance of insolvency proceedings and its avoidance / using the opportunities offered by the reform of the right of avoidance / the COVInsAG
- The assertion of security interests and counterclaims
- 20. – 21. April 2021 Online-Seminar
- 19. Mai 2021 in Köln
InterCityHotel Berlin Hauptbahnhof
Neue DEUTSCHE KONGRESS GmbH
The 12th Receivable- and Risk management Days (B2C) will address receivables management, risk management and debtor management. The planned speakers will give us an insight into their everyday professional lives and explain the opportunities and possibilities in risk control and digital processes.
RA Lutz Paschen is one of the top-class speakers at this event. His topic is the EU Restructuring Directive, which came into force on the 1st of January 2021. First and foremost, the deadline for the discharge of residual debt is significantly shortened. In addition, a pre-insolvency restructuring procedure has been introduced and the insolvency procedure has been modernized. The presentation on these topics will show how receivables management is affected by these changes.
- 23.09.2021 in Berlin
- 26.10.2021 in Frankfurt/M
- 03.11.2021 in München
COVID-19 Pandemic Act COVInsAG: Insolvency law consequences of the crisis for creditors
One of the most important parts of the COVID-19 pandemic law, which was hastily enacted by the legislator in March, is the regulations it contains for the temporary modification of insolvency law. The COVID-19... read more
SanInsFoG: EU Restructuring Directive implemented with effect from 1 January 2021
As early as 2 November 2016, the European Commission had submitted a proposal for a “Directive of the European Parliament and Council on preventive restructuring frameworks, second chance and measures to improve the efficiency... read more
Avoidance of transactions in insolvency proceedings: First results of legal reform
In recent years, the German Federal Court of Justice’s judicature on the so-called pre-emptive action of wilfully disadvantageous transactions according to sect. 133 of the German Insolvency Act (InsO) was completely out of hand.... read more
Current information on SanInsFoG – Short interview about the seminar
The webinar on the new provisions of the SanInsFoG on 16 February 2021 provides an overview of the innovations in restructuring and insolvency law from a creditor's point of view, which will be presented by RA Lutz Paschen and RA Michael Schmidt. In ...
to the video
Insolvency Proceedings from the Creditor’s point of view – The Interview about the Seminar
The seminar Insolvency Proceedings from the Creditor's point of view on 20 August 2020 gave information about insolvency proceedings from the creditor's point of view. In the interview with RA Lutz Paschen, who was leading the seminar together with RA Michael Schmidt, you can find out what the seminar was specifically about.
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First online court hearing for PASCHEN Attorneys at Law
RA Anja Beyer was the first from our team who had the opportunity to participate digitally in a court hearing - a long hoped-for premiere for us.
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Article by JUVE on Global Wind Power defence against 50 million lawsuit with PASCHEN’s support
In an article dated 20 September 2019 Juve reports on PASCHEN´s successful defence against a 50 million Euro judgement against Indian wind turbine manufacturer Global Wind Power Limited. The Higher Regional Court of Cologne has confirmed an earlier ruling of the Regional Court rejecting the lawsuit after the same court had issued a default judgement in favor of the insolvency administrator of wind turbine manufacturer FUHRLÄNDER AG. With its ruling of 1 July 2019 the court followed PASCHEN’s line of arguments claiming the earlier default judgement from 2017 in favour of the insolvency administrator of Fuhrländer AG to be unlawful. Read more here and here.
Article Badische Zeitung
Das Handelsblatt berichtet in seiner Ausgabe vom 13. März 2017 über ein von PASCHEN in einer Anfechtungssache betreutes Unternehmen: Das Aufforderungsschreiben des Verwalters umfasste 65 Seiten und 1000 Seiten Anlagen. RA Baumeister gelang es aber schließlich, die ursprünglich geforderten 155.000 Euro dramatisch herunter zu verhandeln: „Man einigte sich auf 10.000 Euro, um einen Prozess zu vermeiden.“ Zum vollständigen Artikel gelangen Sie hier.