Finanzkrise, Wirtschaftskrise und das deutsche Insolvenzrecht
Vortrag, gehalten vor der Juristischen Gesellschaft zu Berlin am 10. Juni 2009
[Financial Crisis, Economic Crisis, and the German Insolvency Law. Presentation to the Berlin Legal Association (Juristische Gesellschaft zu Berlin) on 10 June 2009]
Aims and Scope
The aim of the presentation is to critically evaluate the importance of German insolvency law as an instrument for overcoming the financial and economic crisis and to develop reasonable reform suggestions. Following a description of the economic and legal points of origin, which must be taken into account as the basis of the evaluation of the decisions and actions already made or planned, thoughts on the goals and instruments of reform policy are presented. The focus of the presentation then turns to extra-judicial (pre-insolvency law) recapitalization, the insolvency statute as an instrument of recapitalization as well as the question of whether there should be a special act on the recapitalization of system relevant financial institutions. In closing, the most important results are summarized.