Out-of-court restructuring attempts are of great importance in Austrian restructuring and reorganization practice. We support you in the development, negotiation and implementation of out-of-court restructuring concepts as well as the restructuring measures required in this context. In doing so, we attach particular importance to the economic viability of the solutions developed.

Specifically, we support you:

• in the development and evaluation of various restructuring alternatives as well as the development of a specific restructuring proposal tailored to your company's situation
• in connection with the restructuring of financing through banks
• regarding contributions to restructuring on the part of shareholders and major contractual partners (suppliers, funding agencies, etc.)
• in the drafting of a binding restructuring agreement with all stakeholders concerned

The new Austrian Restructuring Act (ReO), which came into force in July 2021, stipulates that a reduction in the claims of the affected creditors can be achieved after submission of a so-called "restructuring plan" and on the basis of a majority decision. Our restructuring experts will support you in the development of such restructuring plans and will be at your side throughout the entire restructuring process.

Specifically, we support you:

• in the development of a restructuring concept and, based on this, a detailed restructuring plan
• in the implementation of the restructuring plan during the restructuring process (in particular in communications with the restructuring officer and the court)

• in negotiations with the creditors concerned

If no out-of-court restructuring is sought or if such restructuring attempts have failed, corporate restructuring through judicial restructuring proceedings may also be an option leading to a successful outcome. Our Restructuring Team will successfully steer you through the entire restructuring proceedings.

Specifically, we support you:

• in the development of a restructuring concept for judicial restructuring proceedings
• in the managing the restructuring proceedings in their entirety (in particular in communications with the insolvency administrator and the insolvency court)
• in the implementation of facilitated insolvency-specific contract terminations (with regard to disadvantageous contracts with customers, suppliers, employees, finance providers, etc.)
• in negotiations with major creditors/contractual partners regarding continued business relations

Corporate insolvencies sometimes involve extremely complex issues and difficult legal questions. In practice, avoidance under insolvency law and the provisions of the Insolvency Act governing the maintenance or termination of contracts are often particularly contentious. For the affected business partners of an insolvent company, this can result in risks threatening their very existence. Our Insolvency Law Team will provide you with professional advice on all insolvency-specific issues and will suggest economically sensible solutions.

Specifically, we support you:

• in the context of protecting your interests in the event of the future insolvency of a contractual partner
• in legal issues regarding avoidance
• in questions concerning the maintenance or termination of contracts with insolvent business partners
• in all other insolvency-specific matters

If creditors' claims are not fully satisfied by the insolvent company, they will often try to seek compensation for their losses from other persons. Our restructuring experts will be happy to advise you if insolvency-specific liability claims are asserted against you.

Specifically, we support you:

• in connection with liability notices from tax creditors (tax office, statutory health insurance/ÖGK)
• in the event of claims arising from liability for unduly delaying insolvency proceedings asserted by the insolvency administrator
• in the event of claims for damages asserted by contractual partners in the context of insolvency proceedings

In the event one of your business partners is subject to insolvency proceedings, we will gladly take on the filing of your claims as well as all communication with the insolvency administrator and the insolvency court.

Specifically, we support you:

• in filing your claims in insolvency proceedings
• in the enforcement of collateral provided to you
• by participating in hearings (in particular audit hearings and restructuring plan hearings)

Due to human resource connections and cooperation with REX Unternehmensberatung und Steuerberatung GmbH, our clients can also avail themselves of comprehensive economic support in crisis situations. This means that clients can be offered an additional range of services, such as:

• Preparation of going concern forecasts and subsequent controlling
• Preparation of financial plans for judicial restructuring proceedings as well as determination of the adequacy and feasibility of proposed restructuring plans
• Expert opinions on the date of material insolvency (financial insolvency or over-indebtedness)