business law
According to preliminary figures, German GDP increased by 1.9% in the whole of 2016 and by around 0.5% in the last quarter. Main driver of growth were exports and state consumption which increased from 2.7 to 4.2% in one year. And this rise in state consumption is mainly attributed to the costs for the refugees … more
August remained a relatively quiet month – especially in comparison to June and July. The developments of the previous months (and the season) only took a small toll on the current German economy. However, the outlook has deteriorated.
Since the beginning of January 2024 at the latest, the (insolvency) hammer has been “circling” in Germany: According to Destatis, the number of applications for the opening of regular proceedings (which also include corporate insolvencies) rose by a further 12.3% already in December 2023.
“2024, the year in which narratives break, illusions burst and hollow promises will implode.“ Alexander Kissler via Twitter (here). While at the beginning of 2023 we could at least still look (somewhat hopefully) into the “cloudy crystal ball” (here), the extent of Germany’s malaise became increasingly clear over the course of the year and at … more
“Germany had outsourced its security to the United States, its energy needs to Russia and its export-led growth to China.“Constance Stelzenmüller (here) Even more so than in previous years, which were in some cases full of corona, a look into the chrystal ball regarding Germany’s economic development in 2023 turns into a strained poking in … more
In September 2016, I published a comprehensive analysis (in German) of the potential impact of an economic crisis on the restructuring prospects for companies in Germany. The analysis is based on a total of seven theses, which I discussed in a (non-representative) survey among representatives from banks, funds, research and consulting.
Amid Brexit, the Turkish Coup and now also terrorist attacks on its soil, the German economy overall remains strong in July 2016:
„Plans are nothingplanning is everything“ Dwight D. Eisenhower The current economic situation (here), as well as the sharp rise in the number of corporate insolvencies in recent months (here, in German) prove that the German economy is in crisis mode. Of course, this crisis is not without consequences for individual companies. The following article explains … more
…no, since January 1, 2023, possibly also a legal one: On that day, the “German Act on Corporate Due Diligence Obligations in Supply Chains” came into force. After the pandemic years drastically demonstrated to Western industrial societies the fragility of supply chains – be it due to production losses caused by the Chinese central government’s … more
The German government is reacting to the worsening economic crisis (for the current economic situation, see here) and – possibly out of fear of the wave of insolvencies yet to be seen (for the current development of insolvency figures, see here, in German) – is “remodeling” the previous “COVinsAG” (for more details, see here) into … more