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Clifford Chance

Clifford Chance
Briefings

Briefings

Schuldschein Loans in Cross-Border Restructurings

18 September 2019

Schuldschein loans are no longer the sole preserve of German Mittelstand borrowers, and have started to play an increasingly prominent role in cross-border restructurings. This note examines some of the key issues that all parties will need to be aware of in relation to a restructuring involving Schuldschein loans. These considerations will also be relevant to parties considering a "new money" Schuldschein transaction.

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