Insolvency - New rules for the reconstruction of firms in distress
Firms in distress shall have better possibilities of survival and reconstruction instead of going bankrupt. With the possibility to start a reconstruction of the firm in distress at an earlier stage than previously, the creditors will hopefully be able to save more firms and consequently save a greater part of their outstanding amounts.
Therefore, on 25 June 2010, the Danish Parliament adopted some important amendments to the Bankruptcy Act, thereby introducing a number of new rules concerning reconstruction of firms in distress. The new rules will become effective as from 1 April 2011.
You can find more details in the pdf to the right (Danish only).