The commentary provides a comprehensive overview of the requirements for establishing a pre-insolvency restructuring procedure in Germany and outlines the framework of this procedure according to the European directive. Additionally, the work serves as a guide for practitioners and legal professionals to understand the planned procedures. The commentary is a valuable resource for insolvency and restructuring practitioners, consultants, and professionals from other legal fields, as well as the interested professional public, to gain a systematic understanding of the new pre-insolvency restructuring procedure and the resulting issues, and to find professional solutions. The discussion focuses on the concrete implementation of the directive in Germany and the form of preventive restructuring.