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TMA Compares Restructuring Practices Across the Pond

    By Catalin Diaconu, Creative Planning Business Solutions

    The Germany, Chicago, and Detroit TMA chapters recently hosted a highly engaging webinar on the differences between German and US turnaround and restructuring practices. The event drew over 108 attendees, reflecting strong interest in the topic.

    Given the interconnected nature of the automotive industry, it is not unusual to encounter cross-border restructuring cases. Our panel of business, turnaround, and restructuring experts addressed critical questions on labor law, bankruptcy code differences, and distinctions between IDW S6 restructuring opinions and IBRs.

    Moderated by Eva Ringelspacher (Executive Board, Dr. Wieselhuber & Partner GmbH, Germany – Munich) and Florian Matena (Director, KPMG, US – Detroit), the session featured panelists Nelda Connors (CEO/Founder, Pine Grove Holdings, LLC), Leo Plank (Board Member, TMA Germany), Tom Wearsch (Partner, Jones Day), and Burkhard Gopfert (LIEMT).

    Attendees appreciated the panelists’ real-world war stories and experiences, which provided practical insights into handling cross-border restructuring cases. The event concluded with a breakout session, offering a valuable opportunity for attendees to expand their international networks.

    Overall, the topic was well received, and the webinar successfully highlighted the complexities and nuances of managing turnaround and restructuring practices across different legal and business environments.