June 8, 2022

Restructuring frameworks undergoing change

↓ Part I: Cross-border recognition of restructuring proceedings – Amendment to the European Insolvency Regulation ↓ Part II: Implementation of the Restructuring Directive ↓ Croatia: paving the way for restructuring ↓ Hungary: sneak peek at the new restructuring regime ↓ Romania: implementation of the Restructuring Directive ↓ Slovakia: latest changes to insolvency legislation ↓ Slovenia: […]...

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January 20, 2023

Romania’s implementation of the Restructuring Directive

Directive (EU) 2019/1023 of the European Parliament and of the Council of 20 June 2019 on preventive restructuring frameworks, on discharge of debt and disqualifications, and on measures to increase the efficiency of procedures concerning restructuring, insolvency and discharge of debt, and amending Directive (EU) 2017/1132 (the “Restructuring Directive“) aims to provide an updated and […]...

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August 8, 2022

New restructuring regime in Hungary

The arrival of the eagerly awaited Restructuring Act Due to the transposition of Directive (EU) 2019/1023 through the Restructuring Act, which entered into force on 1 July 2022, a new preventive restructuring framework under Hungarian law is now applicable.1 Objective of restructuring generally The essence of restructuring is that companies in financial difficulties, when there […]...

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April 8, 2021

A giant leap forward?

The new draft for a restructuring code in Austria On 22 February 2021, the ministerial draft of the Restructuring and Insolvency Directive Implementation Act was published. The law is the eagerly awaited implementation of the Restructuring Directive. In addition to the introduction of a new Restructuring Code (RC), inter alia the Insolvency Code (IO) is […]...

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July 31, 2020

Poland: New rules for the filing of financial statements for 2018

The Act amending the Polish Accounting Act and the National Court Register Act ("Act") has introduced changes that significantly affect the obligations of entrepreneurs, particularly with regard to the filing of financial statements. In this edition of Wolf Theiss' newsletter, we highlight the most important of these changes and provide you with a practical guide for implementing the new rules in your company....

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November 19, 2020

Wolf Theiss Guide: Restructuring Loans and Enforcement of Security

This guide is part of our wider offerings on Financial Restructuring, which is included in our services for Special Situations. Our fully integrated, multi-disciplinary Special Situations team provides expert counsel to direct lenders, credit funds, distressed investors, borrowers and other stakeholders on the full range of financial restructuring services. Our updated guide provides a comprehensive […]...

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August 3, 2020

Wolf Theiss advises the Steinhoff Group on the successful implementation of its financial restructuring

Vienna, 26. August 2019 – On 13 August 2019 the implementation of the financial restructuring in relation to Steinhoff Europe AG (SEAG) and Steinhoff Finance Holding GmbH (SFH) was successfully completed. Wolf Theiss advised the Steinhoff group in connection with the comprehensive financial restructuring from an Austrian law perspective....

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May 31, 2023

Banks in crisis – bank restructuring and resolution in theory and practice
13 June

In cooperation with ReTurn (Forum Restructuring and Turnaround), we cordially invite you to a “ReTurn Breakfast” in Dornbirn. Andrea Gritsch and Zeno Grabmayr will give the lecture on “Banks in Crisis – Bank Restructuring and Resolution in Theory and Practice”. Both have many years of experience in banking consulting and restructuring. Speakers Andrea Gritsch is […]...

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August 3, 2020

Wolf Theiss appoints Lech Giliciński head of new Warsaw restructuring practice

Warsaw, 17 June 2019 – Wolf Theiss has set up a Restructuring Practice in its Warsaw office, appointing Lech Giliciński as a Partner and head of the team. He will also take on the role of Coordinator for Restructuring, Insolvency and Distressed Investments in Central Europe....

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August 3, 2020

Postponing restructuring until after the pandemic threatens creditors and the economy as a whole

Warsaw, 25 May 2020 – Postponing the obligation to file for bankruptcy for a period after the outbreak has been declared may be abused. There is a serious risk that an unreliable debtor in the insolvency zone will use the extra time to siphon assets outside a company. In the long run, this type of activity will result in huge payment bottlenecks and a wave of bankruptcies, meaning the losses to creditors. "The lack of solutions to encourage restructuring will hit companies which should react now before it is too late to recover," – warns Lech Giliciński, partner and head of the Restructuring, Insolvency and Distressed Assets practice at the Wolf Theiss Warsaw office....

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March 29, 2023

Banks in Crisis – Bank Restructuring and Resolution in Theory and Practice

In cooperation with ReTurn (Forum Restructuring and Turnaround) we cordially invite you to a “ReTurn five o’clock tea – keynote speech”. Andrea Gritsch and Zeno Grabmayr will give the lecture on “Banks in Crisis – Bank Restructuring and Resolution in Theory and Practice”. Both have many years of experience in banking advice. Speakers: Andrea Gritsch […]...

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January 25, 2017

Restructuring loans and enforcement of security

The most important lessons learned since the collapse of Lehman Brothers are that no bank is too big to fail and that national banking systems are ill-equipped to deal with a truly global financial market. In Central and Eastern and Southeastern Europe, the financial markets that were dominated by Austrian banks experienced unprecedented growth up […]...

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