Category Archive: Insolvency

Landmark Decision by German Federal Court of Justice Affecting License Purchases in the Insolvency Context

License purchases can be excluded from the insolvency administrator’s right to reject or assume contracts By Peter Jark, Stefan Dittmer and Tom Braegelmann and Fabian Hollwitz The Federal Court of Justice (Bundesgerichtshof – “BGH”) on 21 October 2015 issued a landmark decision that is of utmost importance to restructuring and the intellectual property law (case …

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Permanent link to this article: http://blogs.dlapiper.com/derestructuring/2016/06/29/landmark-decision-by-german-federal-court-of-justice-affecting-license-purchases-in-the-insolvency-context/

Federal Court of Justice attenuates management liability risks for payments made after the company’s insolvency

By Dr. Philipp Clemens The liability regime under Section 64 sentence 1 GmbHG and Sections 92 para. 2, 93 para. 3 Nr. 6 AktG for payments made after the company’s insolvency imposes severe personal liability risk on the management of limited liability companies and stock corporations. This does not only apply to the management of …

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Permanent link to this article: http://blogs.dlapiper.com/derestructuring/2016/03/15/federal-court-of-justice-attenuates-management-liability-risks-for-payments-made-after-the-companys-insolvency/

Major Clawback Reform in Germany Getting Closer

Major Clawback reform in Germany Getting Closer By Tom Braegelmann On February 24, 2016, the legal committee (Rechtsausschuss) of the German parliament (Bundestag) held a hearing on the proposed reform to considerably limit the clawback regime (Insolvenzanfechtung) in the German insolvency code (Insolvenzordnung – InsO). The general gist of hearing was that the current German …

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Permanent link to this article: http://blogs.dlapiper.com/derestructuring/2016/02/26/major-clawback-reform-in-germany-getting-closer/

Clawback extended: Retention of title in legal limbo

By Peter Jark, Thilo von Bodungen, Silke Goschler and Tom Brägelmann Retention of title (Eigentumsvorbehalt) is a standard tool in German business for granting security in supply relationships. Usually, it is granted as an extended and/or expanded retention of title (verlängerter bzw. erweiterter Eigentumsvorbehalt). Basically, the supplier receives a revolving security to the delivered movable …

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Permanent link to this article: http://blogs.dlapiper.com/derestructuring/2015/06/05/clawback-extended-retention-of-title-in-legal-limbo/

BGH: De facto managing director may be subject to criminal liability for delaying insolvency proceedings

By Marei Hellmig and Mario Lindner After having declared the possibility of criminal liability of de facto managing directors in an incidental manner (BGH, 21 August 2013, NJW 2014, 164), the German Federal Court of Justice ruled by decision of 18 June 2014 explicitly that not only registered managing directors but also de facto managing …

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Permanent link to this article: http://blogs.dlapiper.com/derestructuring/2014/12/17/bgh-de-facto-managing-director-may-be-subject-to-criminal-liability-for-delaying-insolvency-proceedings/