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Dentons
Quick Take: More clarity—or more confusion—on what the European Central Bank, acting in its Single Supervisory Mechanism capacity (the ECB-SSM), expects?
Germany
Cleary Gottlieb Steen & Hamilton LLP
In response to the financial difficulties many companies were facing due to the lockdown earlier this year in the wake of the COVID-19 pandemic...
Mayer Brown
Zu einem der haftungsträchtigsten Szenarien für einen Geschäftsleiter zählt die (drohende) Insolvenz der Gesellschaft. Im Insolvenzverfahren ist der Insolvenzverwalter gehalten, zur
Mayer Brown
Due to the current corona crisis and the therewith associated tense economic situation, many managing directors (Geschäftsführer) are faced with the question of a possible...
Heuking Kuehn Lueer Wojtek PartGmbB
In our March 17, 2020 article ("Restructuring in times of corona – What companies need to know now" LINK), we reported about the COVID-19 pandemic frequently causing extreme financial difficulties for
Cleary Gottlieb Steen & Hamilton LLP
Under German law, the management of a German company is in normal times strictly required to file a company insolvent without undue delay (the so-called 21-day rule) if the company becomes...
lus Laboris
The German Federal Labour Court has ruled that cabin crew of the insolvent Air Berlin were not entitled to compensation for the loss of their jobs.
Hogan Lovells
Germany has notoriously broad voidability laws. As a rule of thumb, any payment by a third party has high voidability risks if the third party has no obligation to make the payment under the contract.
Heuking Kuehn Lueer Wojtek PartGmbB
A severance payment awarded by dissolution proceedings may either be an insolvency claim or insolvency asset liability. The time the dissolution petition was made is decisive.
Kirkland & Ellis International LLP
The current market has been very quiet for the past couple of years, which is mainly due to the large supply of liquidity by the European Central Bank's corporate sector purchase program
Mayer Brown
The departure of the United Kingdom from the European Union, in particular in the case of a "hard Brexit" in which there is no continued bilateral application of EU law, will have many consequences within the EU.
SKW Schwarz
In some areas, the 2017 insolvency challenge reform provided creditors with better protection against insolvency challenges by insolvency administrators.
SKW Schwarz
Durch die Anfechtungsreform des Jahres 2017 sind Gläubiger in Teilbereichen besser gegen Insolvenzanfechtungen von Insolvenzverwaltern geschützt worden.
Hogan Lovells
Recently the German legislature passed a new law, exempting extraordinary profits created by the waiver of claims under restructurings from income tax liability.
Mayer Brown
Parties to an insolvency proceeding are regularly the insolvency debtor, the insolvency court, the insolvency administrator ...
Mayer Brown
Die Beteiligten eines Insolvenzverfahrens sind regelmäßig der Insolvenzschuldner, das Insolvenzgericht, der Insolvenzverwalter ...
SKW Schwarz
In a landmark decision, Düsseldorf Higher Regional Court clarified that general managers cannot rely on their D&O insurance cover in the event of claims for repayment by an insolvency administrator under Section 64 German Act on Limited Liability Companies (Case I-4 U 93/16).
Mayer Brown
Im deutschen Vertragsrecht gilt das Prinzip der Vertragstreue (pacta sunt servanda), welches die Verpflichtung zur Erfüllung von Verträgen zum Gegenstand hat.
Mayer Brown
Within German contract law, the principle of being bound by a contract (pacta sunt servanda), i.e. the obligation to fulfill agreements, applies.
Mayer Brown
The rules on set-off under certain circumstances allow to „settle" a claim with a counterclaim and, thus, to avoid making back and forth payments.
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