Softline StaRUG – an innovative takeover restructuring plan

In this episode, we speak with Simmons and Simmons’ Christopher Kranz and Simon Kirschner, about the German StaRUG procedure, with a focus on the innovative Softline restructuring.

The German Act on the Stabilisation and Restructuring Framework for Businesses (StaRUG) came into force on 1 January 2021, implementing the EU Restructuring Directive – which obliges all EU member states to establish preventive restructuring frameworks – into German law.

Last year, the StaRUG procedure experienced a number of “firsts”, with high profile cases including Leoni and Gerry Weber. One particularly innovative case was that of listed IT company Softline. Our speakers acted for the majority shareholder Noventiq, which took over the entire equity under the StaRUG.

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