The Federal Ministry of Justice and Consumer Protection (BMJV) is currently finalizing the law to mitigate the consequences of the COVID-19 pandemic in civil, insolvency, and criminal proceedings with extraordinary commitment. It shall be adopted less than two weeks after the beginning of the extensive restrictions on public life and the economy in Germany due to the COVID-19 pandemic.

A central element of the law is to facilitate the raising of debt capital in order to support companies in the current situation. For this purpose:

German Parliament passes “Act for the Further Facilitation of the Restructuring of Companies“ (Gesetz zur weiteren Erleichterung der Sanierung von Unternehmen, ESUG)

Mit außerordentlichem Engagement treibt das Bundesministerium für Justiz und Verbraucherschutz (BMJV) aktuell das Gesetz zur Abmilderung der Folgen der COVID-19-Pandemie im Zivil-, Insolvenz- und Strafverfahrensrecht voran. Weniger als zwei Wochen nach Beginn der weitreichenden Einschränkungen des öffentlichen Lebens und auch der Wirtschaft in Deutschland aufgrund der COVID-19-Pandemie soll es nun verabschiedet werden.

Das Bundesministerium für Justiz und Verbraucherschutz (BMJV) lässt nun mit enormem Einsatz und mit wohl einmaliger Geschwindigkeit seiner vom 16. März 2020 Akündigung Taten folgen (siehe auch: Vier Säulen Schutzschild für Deutschland):

Noch in dieser Woche sollen

The Federal Ministry of Justice and Consumer Protection (BMJV) now implements, with great commitment and unprecedented speed, what it has generally announced on 16 March 2020: 

The Federal Ministry of Justice and Consumer Protection (BMJV) now implements, with great commitment and unprecedented speed, what it has generally announced on 16 March 2020 (see also The four pillar protective governmental shield for Germany):

The German government announced that it will expand the KfW financing programme.

German legislator finally introduces tax exemption for income resulting from debt waivers in restructuring scenarios with retroactive effect.

The reform of claw-back rights in German insolvency proceedings which provides for more legal certainty for creditors has become effective on 5 April 2017.

To date, a debt waiver has been frequently used as a tool to successfully restructure German-based companies in financial difficulties.