business law
One and a half years after the German StaRUG (the Geman implementation of the EU-Regulation on the “preventive restructuring framework, for more information, cf. here) came into force, the German Federal Ministry of Justice (BMJ) has fulfilled its obligation under § 101 StaRUG and has actually made “tools provided by public authorities for the early … more
Ten years after its last decision on this issue and six years after a decision of the VII Civil Senate that deviated from it (see here for the commentary at that time, in German), the IX Civil Senate of the German Federal Civil Court of Justice (BGH) in a decision from October 2022 once again … more
From a legal perspective, the management of corporations is obliged under § 264 of the German Commercial Code (HGB) to prepare annual financial statements (annual accounts) after the end of the financial year (often December 31 of a given year) within certain deadlines – staggered by the respective company`’s size. Against the background of the … more
In a lively discussed decision of June 28, 2022, the II. Civil Senate of the German Federal Court of Justice (Bundesgerichshof, BGH) ruled that illiquidity within the meaning of § 17 para 2 s. 1 InsO may not (only) be demonstrated by drawing up a liquidity status, but may also be demonstrated by other means.
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
With a view to the burdens that various corona aid packages (see here, in German) may have left on the balance sheets of small and medium-sized enterprises in particular, alternative or supplementary means to classic loan financing become increasingly popular in Germany. Also, as is well known, the financing of the “transformation” of the German … more
“It’s not just about doing the right things, but doing things the right way.” Peter Drucker German insolvency law has been a permanent construction site since the end of the 1970s. This truism will not change even after the SanInsFoG came into force at the beginning of 2021 (see here), as the EU Commission’s efforts … more
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 … more
The German legislator’s frenzy went into overdrive on 17 December 2020:
The laws enacted by the legislator at the end of March 2020 to mitigate the consequences of the corona virus pandemic (“Corona Consequences Mitigation Act” („Corona-Folgen-Abmilderungsgesetz“), see here for details) were limited in time and would have mostly expired at the end of September 2020. In view of the ongoing pandemic, some of the relevant … more