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SanInsFoG: public consultation for the committee of right and consumer protection of the Bundestag

On November 18, 2020, the Act on the Further Development of Reorganization and Insolvency Law (SanInsFoG) passed its first reading in the Bundestag and already has been referred to the Committee for Legal Affairs and Consumer Protection for further consideration. Our partner Lutz Paschen was invited to be an expert witness at the public hearing which took place on November 25, 2020.

RA Paschen was the only expert witness at this hearing who explicitly represents the interests of affected creditors. His written statement from the hearing can be found here.

You can find more information on the background and the government draft for the SanInsFoG in our top topic Pre-insolvency restructruring proceedings.