Prof. Francesco Bordiga, Bergamo;
Prof. Dr. Christoph A. Kern, Heidelberg
Even enterprises with a good business model may end up in a crisis – suffice it to think at the consequences of the COVID-19 pandemic. Instead of liquidating such enterprises, it is preferable to restructure them in order not to lose capable market players and, in case they are successfully restructured, to create sustainable value. Due to a European directive, also Italy and Germany want to and must enact a new restructuring law. Where are commonalities, where are differences, and why?