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 fashion group Esprit has had to enter its German branch into protective shield proceedings under German insolvency law. This move has been made in order to allow the company to restructure itself and gain protection from its creditors while doing so. Under such proceedings, Esprit will seek to make changes to its business, [...]
The protective shield proceedings are 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 is possible for firms to enter protective shield proceedings. Such proceedings allow the debtor to retain some control over [...]
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 [...]
What happens if your contractual partner in Germany is insolvent, but you still have claims against the opponent? If these claims are established before the insolvency proceedings were opened, you can assert these claims against the insolvent debtor. We will be pleased to support you in registering your claim at the so-called insolvency table. [...]