From our point of view, the most important change compared to the last draft for restructuring practice is the relaxation of the equity requirement. We had criticised the fact that the new version of the standard also required the companies concerned to have "sufficient balance sheet equity". The problem: qualified subordinations to restructuring would no longer have been an option because they could not be taken into account in the commercial balance sheet. They only strengthen the economic equity, but not the balance sheet equity. Now the IDW has decided to adjust this point – even if only in exceptional cases.
We are also generally satisfied with the new version with regard to the consideration of digitalization. In a joint statement with the Hamburg Working Group for Digitalization, we advocated supplementing the previous standard with a statement on the digital maturity of companies in need of reorganization. Without an appropriate digitalization strategy and specific implementation concepts, we believe that many companies – depending on their business model – will hardly be able to survive on the market. Our approach for a business model-specific assessment of the digital maturity level can be found here.