Lycamobile is a well-known mobile virtual network operator (MVNO) operating in numerous countries, with its headquarters in the United Kingdom. In 2021, their German subsidiary, which was called "Lycamobile Germany" before it rebranded to "Amalasandan Dienstleistungen GmbH", filed for bankruptcy due to a tax debt of €70 million. Lycamobile has had disputes with the [...]
Protective shield proceedings are used in Germany to allow companies to restructure themselves in the face of likely insolvency. Such proceedings can provide the debtor with time to restructure their company, with guidance from the insolvency courts, and, as long as they make progress, avoid insolvency proceedings. Protective shield proceedings are provided for in [...]
The protective shield proceedings is a means by which firms can restructure their business in the face of likely insolvency. As long as the insolvency in question is still "pending" and not yet taking place, it can be possible for firms to enter protective shield proceedings. Such proceedings allow the debtor to have some [...]
With § 1 COVInsAG (the Coronavirus Act), the legislator has suspended the obligation of corporate bodies with limited liability to file for insolvency under § 15a InsO and § 42(2) BGB until 30.9.2020 if the insolvency maturity is based on the consequences of the spread of the coronavirus and if there are prospects of eliminating [...]
The current coronavirus crisis is putting increasing financial and economic pressure on companies. Above all, managing directors of limited liability companies (GmbH) must deal with the crisis properly. Otherwise, a company's managing director may become liable with their own assets. The necessary knowledge about one's rights and obligations as a managing director should be known [...]
COVID-19 coronavirus is now a global pandemic. As has been seen, the virus brings not only health risks but also economic damage. The true economic cost is difficult to calculate as Europe and the USA brace themselves for a rise in cases over the next weeks. Even at this early stage in the pandemic, [...]