A reorganization procedure is a preventing measure for the lasting reorganization of a Austrian enterprise before an insolvency procedure be introduced must.

legal framework

Besides the legislator forces also the insolvency prophylaxis. In the year 1997 for entrepreneurs the possibility was created, already before entrance of the material insolvency (inability to pay; To request insolvency) a reorganization procedure. This could not certainly become generally accepted because of its structural lack in practice. The URG 1997 remained to today "dead right". ()

A legal condition for being present a reorganization need in Austria:

• Own resources ratio < 8%
• fictitious debt retirement duration > 15 years

Related links

• Draft of the enterprise reorganization law 1997
• Article "the enterprise reorganization law - a "; Dr. Kreft

Articles in category "Reorganization procedure"

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