German Insolvency Law: From 1 January 2021 New Law (SanInsFoG) Temporarily Exempts Businesses Distressed by COVID-19 from Regular Insolvency Regime
Heuking Kühn Lüer Wojtek, December 2020
From 1 January 2021, debtors insolvent due to COVID-19 pandemic will benefit from suspension of duty to file for insolvency until 31 January 2021 for companies expecting COVID-19 financial assistance related to November and December 2020 lock-down easier access to protective shield proceedings and self-administration proceedings, shorter prognosis period for over-indebtedness test (four months instead of twelve) SanInsFoG becomes effective 1 January 2020 The Act for the Further
© Heuking Kühn Lüer Wojtek, 2021