Information series on European Union accession countries. Central & Eastern Europe region (“CEE”)
Topic 4: Insolvency and restructuring proceedings
Insolvency and restructuring proceedings in Poland, Germany, and France
For this analysis, we selected Poland as the key CEE market and the one where CVI invests most, and two major Western European economies – Germany and France. We look into legal proceedings available in all three countries for companies that get into financial difficulties. Two options are available:
- Restructuring: the main purpose of restructuring proceedings in Poland and in France is to avoid the debtor’s insolvency. There are no formal restructuring proceedings in Germany except for the bond restructuring.
- Insolvency: the main purpose of the insolvency proceedings in all three jurisdictions is liquidation of the company’s business and satisfaction of the creditors’ claims.