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Leinen 129,00 € Krisenzeiten sind Blütezeiten des Insolvenzrechts. Für die Insolvenzordnung des Jahres 1999 ist die gegenwärtige Finanzund Wirtschaftskrise die erste echte Feuertaufe und die angestoßenen Reformen belegen, dass sich gerade ihr Planverfahren noch nicht bewährt hat. Da die Fortentwicklung jedes Rechtsinstituts zwingend das Verständnis seiner Dogmatik voraussetzt, untersucht Stephan Madaus zunächst ausführlich die Rechtsnatur des Insolvenzplans, den er als (in der Entstehung von einem Kontrahierungszwang begleiteten) Vertrag zwischen allen Beteiligten erkennt. Hierauf aufbauend entwickelt er in Anlehnung an das U.S.-amerikanische Insolvenzrecht eine neue Variante des Planverfahrens, die es de lege ferenda als reine Bestätigungsinsolvenz ermöglichen würde, vorinsolvenzliche Abstimmungen über einen Insolvenzplan im anschließenden Insolvenzverfahren unter Eigenverwaltung nur noch bestätigen zu lassen.

The appearance of the COVID-19 in Europe has prompted lawmakers to introduce public health measures that inevitably hurt the economy by reducing economic activity and business revenues. The foreseeable risk that the pandemic could be followed immediately by a bankruptcy epidemic led to the adoption of rules related to insolvency and restructuring laws in emergency legislation in most European countries. These rules aim at avoiding businesses to become insolvent either by suspending insolvency tests (see II.) or by providing cash support and debt moratoria (see III.). They may also contain measures that indirectly affect insolvency and restructuring proceedings (see IV.). This paper explains the logic behind emergency legislation and the specific rules adopted in European countries.

In a European study, written under the auspices of the European Law Institute, the authors have designed elements of a legal framework that will enable the further development of coherent and functional rules for business rescue in Europe. Based on the recommendations of international organisations, such as UNCITRAL and the World Bank, as well as the insolvency laws of EU Member States, comparative research has led to a lengthy report of 10 chapters and more than 100 recommendations which are described in this article. They range from the need for professional and honest parties involved in the process (insolvency practitioners, turnaround managers, courts and company directors) to the evaluation of specific tools (such as a stay on enforcement actions of creditors and forms of available finance) and procedural safeguards to enable serious rescue efforts of viable businesses, while protecting justified interests. Copyright © 2018 INSOL International and John Wiley & Sons, Ltd.