Fulltext Search
COVID-19: Pressure points: Suspension of the insolvency application obligation (GERMANY)

Self-application

Basic principle

Germany, Insolvency & Restructuring, Herbert Smith Freehills LLP, Coronavirus
COVID-19 Germany: The Government's response

Insolvency Law

The German Federal government is preparing measures to suspend the requirement for companies to file for insolvency in cases where companies are suffering financial losses due to the current COVID-19 crisis. This suspension may apply through 30 September 2020. The German government aims to avoid insolvencies that may occur simply because the state's financial help may not arrive in time.

Germany, Employment & Labor, Insolvency & Restructuring, Tax, Herbert Smith Freehills LLP, Coronavirus, European Commission
Landlord wins as CVA term not a penalty

Following the liquidation of BHS Ltd, the High Court was asked to consider whether a landlord could claim full rent as an administration expense following termination of the CVA.

Background

Wright and another (Liquidators of SHB Realisations Ltd) v The Prudential Assurance Company Ltd concerned three principal insolvency processes applicable to companies under the Insolvency Act 1986:

United Kingdom, Insolvency & Restructuring, Litigation, Real Estate, Shoosmiths LLP, Liquidation