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September 10, 2025European Insolvency and Restructuring Journal

The new German “Stabilisation and Restructuring Framework for Businesses”

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Authors

TPTjark PagodaCTChristoph Thole

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Overview

The new law introduces a preventive restructuring framework, allowing debtors to propose binding restructuring plans to creditors.

Key Points

  • The restructuring framework allows debtors a chance to discharge debt and sustain business viability.
  • It enables binding restructuring plans upon dissenting creditors, a significant shift in German insolvency law.
  • This framework is particularly effective for managing financial obligations while excluding termination of mutual contracts.
  • The new legislation represents a major shift from prior requirements, which demanded unanimous creditor approval.

Cite This Study

Pagoda et al. (2021) studied this question.

synapsesocial.com/papers/68c1e17854b1d3bfb60febbchttps://doi.org/10.54195/eirj.15088
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