M&A ter­mi­na­ti­on at the ope­ning of insol­ven­cy pro­cee­dings: man­da­to­ry in the case of segre­ga­ti­on of pled­ged com­pa­ny shares and IP rights

Once insol­ven­cy pro­cee­dings have been ope­ned, liqui­da­ti­on by the insol­ven­cy admi­nis­tra­tor is not per­mit­ted; appr­oval or con­ti­nua­tion of M&A pro­ces­ses that have alre­a­dy begun is legal­ly excluded.