Frankfurt Courts Limit Scope of New German Bond Act – Direct Impact on Debt Restructuring

Today’s post provides some legal back ground on prominent corporate restructuring matters. Pfleiderer, a manufacturer of engineered wood and laminate flooring, and solar company Q-Cells have been making the headlines in the business press for quite some time now. Both were the brink of insolvency, both had bonds outstanding, the restructuring of which was central to their survival – and in both cases this led to litigation in the Frankfurt courts. Continue reading

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