2021 had started with the most profound innovation for German restructuring law for over two decades. After many German restructuring experts and insolvency practitioners had long campaigned for the introduction of a formal out-ofcourt restructuring, the implementation of the EU Restructuring Directive (Directive (EU) 2019/1023 of 20 June 2019) into German law (so called SanInsFoG) as of 1 January 2021 finally brought change. The German law now provides for the first time ever for an out-of-court restructuring regime that allows cram down of dissenting creditors.
For the Insolvency and Restructuring Review 2022, our lawyers Andreas Dimmling and Sandra Krepler contributed a chapter on the current and upcoming trends and developments in German insolvency and restructuring law.
