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Recent Changes in German Insolvency Law

Effective January 1, 2021, after only a few weeks of parliamentary deliberation, the so-called “Act on the Further Development of the Restructuring and Insolvency Law (SanInsFoG)” has introduced significant changes to German Insolvency Law. In addition to entirely new pre-insolvency restructuring measures (“Law on Stabilization and Restructuring Framework for Enterprises (StaRUG)”) mandated by Directive (EU) 2019/1023 of June 20, 2019, the German lawmakers have fine-tuned and amended some of the regulations introduced in early 2020 that were intended to ease the pressure on companies affected by the COVID-19 pandemic. With the goal of preventing the insolvency of viable companies in financial difficulties, not least due to the current pandemic, the new measures offer companies a toolbox of flexible pre-insolvency restructuring...To read the full article, please see the PDF file

*This article is also available in Japanese.

*February 17, 2021  Made some minor corrections.

It is also available in PDF.
Europe Newsletter (February 16, 2021) (746 KB / 3 pages) Download PDF [817 KB]



Dominik KRUSE

  • Partner
  • Frankfurt / Düsseldorf

Dominik serves as co-representative of our offices in Frankfurt and Düsseldorf, Germany. He advises Japanese companies on corporate and cross-border M&A matters, as well as European companies regarding their business expansion into Southeast Asia (notably Indonesia, Thailand and Vietnam). He has a wealth of international experience and brings unique insights into deal-making across different cultures in both emerging and mature markets. Before joining the Tokyo office of Nishimura & Asahi in November 2019, Dominik worked at Clifford Chance (based out of Düsseldorf, Germany, and New York) and as in-house counsel at Pfizer, Inc. (New York).


Maximilian LENTZ

  • Associate
  • Frankfurt / Düsseldorf

Maximilian’s practice covers cross-border M&A transactions, set-up of cross-border Joint Ventures, and day-to-day commercial business activities of international corporations in Europe. He lived in Japan for more than two years including a one-year research fellowship at Kyoto University. Before joining Nishimura & Asahi, Maximilian worked at leading law firms in Germany focusing on legal advice to international clients especially from Japan, China and other Asian jurisdictions.
Leveraging his professional and intercultural experience, Maximilian is considerate of the client’s business culture and provides tailored solutions also by coordinating closely with legal counsel from other European jurisdictions, where necessary.