Restructuring in the time of Corona: "German Chapter 11" – Restructuring under Plan Proceedings

03 April 2020

The huge economic impact of the worldwide COVID-19 pandemic has long since reached the German economy. For many industries, the business climate has deteriorated massively. Stores remain closed, supply chains are affected, customer numbers have significantly dropped and businesses have to impose reduced work hours (Kurzarbeit) or forced leave to reduce costs.