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Difficult restructuring with borrower’s note loans

Dr. Roman Hager, LL.M. (act legal Austria) and Dr. Sven Tischendorf, MBA (act legal Germany) were cited in the popular Austrian newspaper “Der Standard” about difficult restructuring with borrower’s note loans. 

Based on the problems of Kika/Leiner’s parent company Steinhoff regarding this particular financing instrument the authors are explaining that all its advantages are accompanied by disadvantages in case of a company’s crisis.