The Austrian Implementation of the PRD 2019: Game Changer or Missed Opportunity?
The Austrian implementation of the PRD 2019 was performed through a new Restructuring Code (ReO). It is broadly discussed whether the ReO is a real improvement within the existing Austrian restructuring and insolvency landscape. Nevertheless, it may still provide tools and instruments which could help in the desired strengthening of a preventive restructuring and rescue culture. This paper tries to highlight the most promising aspects of the ReO. In order to set the frame, it does first briefly describe the Austrian pre-ReO restructuring and insolvency landscape and then point out the main aspects and characteristics of the ReO.
Univ.-Prof. Dr. MMag. Martin Trenker, Leiter des ZGV-Instituts an der Universität Innsbruck