8th ICCML Forum
On 13. June 2014 the 8th ICCML Forum took place in Hamburg. 150 Practicioners and Academics visited the Forum. Until noon, the European Banking Union was discussed. Prof. Jörn Axel Kämmerer introduced the new pillars of the common supervision. MDg Dr. Thomas Pötzsch, who is responsible for Financial Market Regulation in the German Ministry of Finance, felt cautiously optimistic about the new supervisory structure for Bank Recovery and Resolution.The discussion showed large tasks for both, academics and practicioners.Günter Hugger, General Counsel of Commerzbank, delivered a report about the successful but onerous restructuring of Commerzbank under the FmStBG (Act to Accelerate Financial Market Stabilisation). Prof. Peter O. Mülbert commented on the development of Risk Management and Compliance.
After lunch the Forum proceeded to Corporate Law. Jochen Wentzler of Deloitte & Touche reported on restructuring without filing of insolvency. Subsequently Dr. Frank Kebekus gave a summary of directors’ and owners’ duties in insolvency. Afterwards BGH Judge Prof. Gehrlein solicited for an extensive interpretation of rescission under insolvency law in case of intent. The Forum was concluded by a lively debate between Prof. Karsten Schmidt and Prof. Georg Bitter about the consequences of ESUG, Suhrkamp and Pfleiderer. Prof. Bitter spoke in high terms about this instrument of corporate law during insolvency. Prof. Schmidt opposed this innovation.