In the course of a corporate crisis or insolvency proceedings, all stakeholders generally pursue the same core interest: to maximize their benefits from the (contractual or business) relationships they have with the respective company. Thus, banks, credit insurers and suppliers are (legitimately) interested in liquidating a possibly high percentage of their claims against the corporation in crisis. The primary objective of the employees and the Federal Employment Agency is to preserve jobs sustainably.
If the business can permanently continue its activities, the interests of all stakeholders will be optimized. Thereby economic targets such as saving jobs etc. are promoted, too. In contrast, the liquidation of a company being capable and worthy of restructuring leads to suboptimal results for everyone involved due to empirically low liquidation values for assets as well as abolition of jobs and products.
This being the situation, the iir is going to offer specific suggestions for improvement and possible approaches within the existing Reorganization and Insolvency Law.