Article in “Rechtspanorama DiePresse” – Restructuring: Social insurance carriers should be able to waive claims
A new Restructuring Code will soon be enacted in Austria that should help reorganize distressed companies. In order to increase the chances of a successful reorganization, the reform should also eliminate an old problem under Austrian law.
Attorney at Law Felix Kernbichler wrote an article in the Austrian newspaper diepresse.com and proposes the following clarification: Social insurance carriers should be able to waive a portion of their claims to support a reorganization that promises a better quota for them than liquidation of the company.