Originally Posted by thbe

Yes, basically it's also possible under German law. But it doesn't work as good as under Chapter 11 in the US. The reason is, that under German law the management of the company loses his power and the insolvency trustee takes over control. The insolvency trustee is less interested in rescuing the company and often he hasn't the management skills for that.

But I don't think, that EY let AB go bankrupt. EY would not really save money by doing that, but will lose his bargaining power towards the German government and LH. But after Brexit and loosing the British government as EU internal support, EY's business with Europe depends on the goodwill of the German government. Plus after loosing AZ and AB they will need an European partner like LH. So a deal between German government, EY and LH is very likely.