The German federal government is trying to at least cushion the economic consequences of the Corona pandemic in several ways. One of these is a regulation that is likely to be aimed primarily at retailers severely affected by forced closures, namely to force landlords to adjust rents according to the principle of the so-called “cessation of the implicit of the contractual basis” (“Wegfall der Geschäftsgrundlage“). The following article proves that a hectic rush does not automatically make for the best possible regulation.
After not too bad of a start into the year (here) hopes were (and are still) high that the German economy would have a a decent start into the year. However, as lockdown 3.0 looms (did we even get out of “2.0”?), are there now clouds appearing on the economy’s horizon? For that let’s take … more
Everyone is talking about restructuring, so I am too. In my small series of in-depth articles on the SanInsFoG in general and the StaRUG in particular (see already here and here), I will now deal with the aspect of what “depth of reorganisation” the StaRUG actually stipulates (with a small, but important for future case law on the StaRUG, side glance at the InsO).
Now it’s official – the SanInsFoG came into force (at least in its most important parts) on January 1, 2021. And already, the first reform is just around the corner: the pandemic-related further extension of the “COVInsAG”. After the smoke has cleared from the trench warfare over the design of this next “reform of the century”, which after a decade of discussion has finally given birth to something like a “pre-insolvency restructuring mechanism”, I will (as already promised at the end of last year, here) take a more in-depth look at specific aspects of this reform work in a small series.
In a decision from November 2020, the German Federal Court of Justice (“Bundesgerichtshof“, “BGH“) explicitly opposed the view predominantly held by the Higher Regional Court Düsseldorf (most recently still: OLG Düsseldorf, judgment 26.06.2020 – 4 U 134/18, in German) and classified the claim for damages against the managing director pursuant to § 64 Sentence 1 GmbHG (German Act on Limited Liability Companies) as a statutory liability claim for damages within the meaning of the insurance conditions.
The German legislator’s frenzy went into overdrive on 17 December 2020:
Before the Lockdown 2.0, the German German economy – after bottoming out in May (cf. here) – rebounding in June (cf. here), July (cf. here) and August (here) – somewhat climaxed in September 2020 (here) – as proven with the October figures (here). The hard lockdown seems to have taken a toll at the German economy already in November 2020. But, let’s look into the German economy in some more detail:
Before the Lockdown 2.0, the German German economy – after bottoming out in May (cf. here) – rebounding in June (cf. here), July (cf. here) and August (here) – somewhat climaxed in September 2020 (here). The question, hence, is whether in anticipation of the new Lockdown in Germany (which finally came into force only on 2 November 2020 but was heavily discussed since mid-October) already put a break on the rising economy in October. So, let’s look into the German economy in some more detail: