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2 years ago

InsO study 2015

  • Text
  • Insolvency
  • Restructuring
  • Proceedings
  • Mckinsey
  • Creditor
  • Esug
  • Creditors
  • Preliminary
  • Respondents
  • Germany

... which is also

... which is also reflected in the higher cost of restructuring Restructuring under the protective shield and subsequent insolvency proceedings costs more than restructuring in plan proceedings (before changes) Percent Completely agree 8 Mostly agree 20 63 Slightly agree 35 Slightly disagree 25 Mostly disagree 7 37 Completely disagree 4 "Debtors are not usually able to initiate successful self-administration proceedings without external consulting [...]." – Insolvency judge "For smaller companies especially there are significant obstacles: the cost of consulting is typically at least EUR 200,000[...]." – Lawyer SOURCE: Noerr; McKinsey 10

Protective shield and subsequent insolvency proceedings usually take 7 to 12 months to complete How long, in your experience, does restructuring take with the protective shield and subsequent insolvency proceedings? Percent Assessment of time between application and end of proceedings March 2012 to April 2015 Percent 1 - 6 months 10 24 7 - 12 months 70 55 13 - 28 months 20 21 2/3 of respondents stated that restructuring with the protective shield and subsequent insolvency proceedings is relatively fast SOURCE: WBDat/Verlag INDat, Cologne 11

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