business law
While the term “ESG” was actually more familiar to fund managers and compliance/CSR officers in larger companies before the Corona pandemic, since the beginning of 2022 at the latest, the turnaround scene can no longer avoid dealing with this terminology and the concepts behind it. Banks ensure compliance with ESG standards as an additional criterion … more
No sooner had the (economic) waves calmed down at least a little after the Corona pandemic than Russian troops marched into Ukraine. Not only because of this war, but also because of further Corona-related delays in the trade with China (here, in German), the supply bottlenecks have not – as hoped – eased, but in … 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
Hey, great that I may still experience this in my life-time! Almost ten years after my “Plädoyer für ein vorinsolvenzliches Sanierungsverfahren” (ZInsO 2011, 57, here, in German) and a good four years after my (rather rhetorical) question “Bedingt Sanierungsbereit?” (ZInsO 2016, 1778, here, in German), the has government (finally) finally presented the draft of the “Act on the Further … more
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
“Just in time” for the upcoming economic crisis (see only here), the German higher courts are expanding the duties of advisors in general and lawyers in particular. After the BGH’ IXth Civil Senate had already tightened the liability of tax advisors with regard to omitted warnings of reasons for insolvency in a judgement from January … more
The change in jurisprudence of the German Federal Supreme Court (“Bundesgerichtshof“, “BGH“), may – after previous decisions regarding avoidance in insolvency that were initially difficult to interpret (here) – now actually turn into a true “dawn of a new era”: Germany’s highest civil court realignes areas such as avoidance law, the appointment of administrators and … more
In response to the burgeoning economic crisis following Corona, which is likely to “wash a number of economic crimes to the surface”, the German Federal Ministry of Justice and Consumer Protection (BMJV) published the draft Bill of an “Act to Strengthen Integrity in the Economy” on 22 April 2020 after a coordination process with interested … more
Seemingly, the worsening economic situation (see only here) is already leading to poorer payment morale. For an entrepreneur, however, it helps little to complain about the general “moral decline” (as is done here (in German)). Rather, you should proactively take action well before a possible default in order not to fall victim to the (very … more
While the public hype about “start-ups”, i.e. (more or less) innovative business start-ups that pursue aggressive growth strategies, is unbroken, a current PwC study shows that in recent years numerous so-called “fintechs” (i.e. start-ups that (at least allegedly) want to introduce disruptive business processes into the financial world through digitalisation) have already run out of … more