Focus Abroad: Corporate Insolvency In Germany
Mondaq Business Briefing › Germany Law Articles in English (2004)
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Focus Abroad: Corporate Insolvency In Germany
Five years after the new German Insolvency Code ( Insolvenzordnung) came into Insolvenzordnung force, German insolvency law is of considerable interest to both the national and international business communities. This is mainly due to the record number of corporate bankruptcies in recent years, including such spectacular cases as Kirch Media, Philipp Holzmann, Herlitz, Fairchild Dornier & Babcock Borsig. Corporate bankruptcies amounted to 26,600 cases in 1999. The number has increased to almost 39,500 cases in 2003 and amounts to about 19,300 in the first half of 2004. While stakeholders face the special challenges ...
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