Extrajudicial & Judicial Reorganization (AUT/GER)
Niveau
3rd semester Master: 1st Study cycle
Learning outcomes of the courses/module
The students:
• are able to analyze and evaluate judicial and out-of-court restructuring procedures.
• understand the legal foundations of out-of-court restructuring.
• are familiar with the basic principles and areas of application of the German ESUG framework.
• are able to develop and assess restructuring and turnaround concepts.
• are able to evaluate risks ad success factors in corporate restructuring processes.
• are able to analyze and evaluate judicial and out-of-court restructuring procedures.
• understand the legal foundations of out-of-court restructuring.
• are familiar with the basic principles and areas of application of the German ESUG framework.
• are able to develop and assess restructuring and turnaround concepts.
• are able to evaluate risks ad success factors in corporate restructuring processes.
Prerequisites for the course
3rd semester Master: no details
Course content
• Insolvency development and causes of insolvency
• Corporate restructuring
• Restructuring law
• Measures for out-of-court corporate restructuring
• Types of corporate crises
• Overview of the applicable insolvency system
• Basic features of liability law
• Transferable restructuring
• Creditors affected by restructuring
• Risks of failed restructuring
• Equity Substituting Capital Act (EKEG) and prohibited return of capital contributions
• Corporate restructuring
• Restructuring law
• Measures for out-of-court corporate restructuring
• Types of corporate crises
• Overview of the applicable insolvency system
• Basic features of liability law
• Transferable restructuring
• Creditors affected by restructuring
• Risks of failed restructuring
• Equity Substituting Capital Act (EKEG) and prohibited return of capital contributions
Recommended specialist literature
Crone, A., & Werner, H. (Hrsg.) (2024). Modernes Sanierungsmanagement: Drei Sanierungsoptionen im Überblick: Außergerichtliche Sanierung, StaRUG und Insolvenz als Sanierungsinstrument. München: Vahlen.
Exler, M. W., & Situm, M. (2025) (Hrsg.). Restrukturierungs- und Turnaround-Management: Strategien, Erfolgsfaktoren und Best Practice für die Transformation. Berlin: Erich Schmidt Verlag.
Feuchtinger, G., Lesigang, M., & Prior, M. (2023). Praxisleitfaden Insolvenzrecht. Wien: Linde Verlag.
Römermann, V. (Hrsg.) (2021). Praktikerhandbuch der Sanierung und Restrukturierung: Fortentwicklung des Sanierungs- und Insolvenzrechts. Herne: NWB-Verlag.
Sands, J. (2022). Corporate turnaround artistry: Fix any business in 100 days. Hoboken, NJ: John Wiley & Sons.
Tron, A. (2021). Corporate financial distress: Restructuring and turnaround. Bingley, UK: Emerald.
Exler, M. W., & Situm, M. (2025) (Hrsg.). Restrukturierungs- und Turnaround-Management: Strategien, Erfolgsfaktoren und Best Practice für die Transformation. Berlin: Erich Schmidt Verlag.
Feuchtinger, G., Lesigang, M., & Prior, M. (2023). Praxisleitfaden Insolvenzrecht. Wien: Linde Verlag.
Römermann, V. (Hrsg.) (2021). Praktikerhandbuch der Sanierung und Restrukturierung: Fortentwicklung des Sanierungs- und Insolvenzrechts. Herne: NWB-Verlag.
Sands, J. (2022). Corporate turnaround artistry: Fix any business in 100 days. Hoboken, NJ: John Wiley & Sons.
Tron, A. (2021). Corporate financial distress: Restructuring and turnaround. Bingley, UK: Emerald.
Assessment methods and criteria
Exam
Language
German
Number of ECTS credits awarded
6
Semester hours per week
Planned teaching and learning method
The course takes place in dialog with the students. Thanks to their knowledge of Austrian law, they are able to con-tribute well and to learn using and from the differentiation between the regulations in Austria and Germany. Practical examples make the material to be taught clear and understandable.
For the presentation of the special features within the concepts of insolvency as well as over-indebtedness, extensive cases are worked out and discussed with the students, which draw attention to the typical pitfalls.
For the presentation of the special features within the concepts of insolvency as well as over-indebtedness, extensive cases are worked out and discussed with the students, which draw attention to the typical pitfalls.
Semester/trimester in which the course/module is offered
3