f.l.t.r.: Rudolf Winter, Heinrich Foglar-Deinhardstein, Thomas Trettnak, Andreas Konecny, Irene Welser, Hans Georg Kantner, Franz Mohr
CHSH Cerha Hempel Spiegelfeld Hlawati held an event on insolvency law on Wednesday 10 October 2012 which attracted a large number of participants. A distinguished panel of guests debated the need for Austria to have its own bank insolvency law during a podium discussion. The panel also went on to discuss the debt-to-equity swap on the basis of the German model.
Numerous participants from leading Austrian companies learnt about practical experience of the restructuring proceedings which have been possible since 2010 during a lecture given by Univ.-Prof. Dr. Andreas Konecny (University of Vienna). Furthermore, CHSH experts Dr. Thomas Trettnak and Mag. Heinrich Foglar-Deinhardstein gave an overview of pioneering trends in international insolvency law.
Lastly, the "author" of the federal act, Dr. Franz Mohr (Federal Minister of Justice), the head of the insolvency department at KSV 1870, Dr. Hans-Georg Kantner, Univ.-Prof. Dr. Andreas Konecny (University of Vienna) and Dr. Rudolf Winter (Insolvency Judge at the Commercial Court of Vienna) participated in a discussion moderated for the third time by Hon.-Prof. Dr. Irene Welser, Managing Partner at CHSH, which examined recent findings and future trends since the entry-into-force of the Insolvency Act.
The unanimous conclusion: The Insolvency Act of 2010 has to date proven to be an outstanding piece of legislation. However, further changes to insolvency law should be made on the basis of the foundations of European law, especially in order to make it easier to settle cases of cross-border insolvency.