Clifford Chance
Courts adopt clear position on subordination of shareholder loans - ILO
11 May 2012
Under German insolvency law, shareholder loans are generally subordinated in insolvency proceedings (unless certain exceptions apply). The claims of subordinated insolvency creditors have the lowest priority among all claims and are paid out only after the complete satisfaction of unsecured creditors.
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Courts adopt clear position on subordination of shareholder loans - ILO
