ESUG – an important amendment of the German Insolvency Ordinance. A brief overview over the main changes. B ackground. Insolvency Ordinance from 1999 EIR from May 2002 Forum shopping Need for improvements. Purpose of the ESUG.
byinstituting a preliminarycreditors‘scommittee, s. 21, 22a
byselection of theadministrator, s. 56a (56 par. 1 3rd sent.)
Note: twoprofessions! Restructuringexperts vs. Insolvency administrators