The federal government intends to offer companies that are negatively impacted by the corona crisis and their corporate representatives time to conduct the necessary financing and restructuring negotiations. This has now been effected by the Act on the Temporary Suspension of the Obligation to File for Insolvency and to Limit the Liability of Corporate Bodies in the event of insolvencies caused by the COVID-19 pandemic.

In the following, we provide an overview of government assistance that has already been implemented or is planned to mitigate the effects of COVID-19. The KfW Special Program is available as of March 23, 2020 and applications can be submitted. Please be advised that changes may occur at any time.

We are happy to assist you as you move forward and design a targeted and tailor-made reaction to the current challenges.

Die Bundesregierung möchte den durch die Coronakrise geschädigten Unternehmen und ihren organschaftlichen Vertretern Zeit geben, um die notwendigen Finanzierung und Sanierungsverhandlungen zu führen. Dies ist inzwischen durch das Gesetz zur vorübergehenden Aussetzung der Insolvenzantragspflicht und zur Begrenzung der Organhaftung bei einer durch die COVID-19-Pandemie bedingten Insolvenz geschehen.

The Law to mitigate the consequences of the COVID 19 pandemic in civil, insolvency and criminal procedure law ("Gesetz zur Abmilderung der Folgen der COVID-19-Pandemie im Zivil-, Insolvenz- und Strafverfahrensrecht") was adopted by the German Bundestag on 25 March and approved by the Bundesrat representing the federal states on 27 March 2020. With its draft published by the German Federal government on 23 March 2020, the implementation was probably the fastest legislative procedure of such scope in the history of the Federal Republic.

In response to the outbreak of COVID-19, the German federal and state governments have implemented several executive and legislative measures to support affected businesses in Germany. This newsletter provides an overview of the key measures which may be relevant to Japanese companies with operations in Germany. Naturally, there will be many questions and issues to be clarified, and we will be happy to use all our experience and local contacts to help answer and overcome them.

Overview

Gesetz zur Abmilderung der Folgen der COVID-19 Pandemie

Our lives have changed completely in a few days due to COVID-19 and the world’s response to it. Governments react with a multitude of regulations, which have a considerable influence on the economy especially for the Retail & Consumer sector. This affects very different areas of law. Our sector approach consists, among other things, of showing you the legal consequences in the most diverse legal areas and our contact persons for this.

Handlungsbedarf und Handlungsoptionen

Self-application

Basic principle

Die Möglichkeiten durch das Gesetz zur Abmilderung der Folgen der COVID-19-Pandemie im Zivil-, Insolvenz- und Strafverfahrensrecht für Startups.