Suspension of Insolvency Filing Obligations in Germany: Creditors’ Options. COVID-19 Coronavirus

With § 1 COVInsAG (the Coronavirus Act), the legislator has suspended the obligation of corporate bodies with limited liability to file for insolvency pursuant to § 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 [...]

Managing Directors’ Liability Insolvency Germany: COVID-19 Coronavirus

The current coronavirus crisis is putting increasing financial and economic pressure on companies. Above all, managing directors of limited liability companies (GmbH) must be able to deal with the crisis properly. Otherwise, a company's managing director may become liable with their own assets. In such a situation, the necessary knowledge about one's rights and [...]

Short-Term Financial Assistance for Companies in Germany: COVID-19 Coronavirus

The COVID-19 coronavirus crisis has been a disaster for many businesses in Germany and worldwide. Many firms in Germany now require short-term financial assistance to help them. Supply chains have been disrupted, businesses have been closed down, workers have had to self-isolate or work from home and public life has been changed dramatically. For [...]

Insolvency Proceedings Filing Claims in Germany: FAQ

What happens if your contractual partner in Germany is insolvent, but you still have claims against the opponent? If these claims were 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 [...]