INTRODUCTION
Die Frage der Kompetenzverteilung zwischen dem Vorstand und der Hauptversammlung der AG ist ein Dauerthema des Aktienrechts. Der Autor entwickelt ein eigenes Konzept zur dogmatischen Begründung ungeschriebener Hauptversammlungskompetenzen und untersucht, ob für den Börsenrückzug und die fakultative Insolvenzantragstellung eine Zustimmung der Hauptversammlung erforderlich ist. Der Autor lehnt die Frosta-Entscheidung des BGH ab und vertritt die Ansicht, dass der Börsenrückzug (reguläres Delisting wie auch das Downlisting) wertungsmäßig mit den in § 119 Abs. 1 Nr.
Ausgangssituation
During its 44th congress in Toronto, on September 17, 2014, the International Association for the Protection of Intellectual Property (AIPPI) adopted a resolution on "IP Licensing and Insolvency". The resolution regarding "Question Q241" can be accessed via AIPPI's website using the following link:https://www.aippi.org/download/commitees/241/RS241English.pdf.
The Resolution
German insolvency law is governed by a comprehensive Insolvency Code which entered into force on January 1, 1999 and has been amended from time to time, the last major reform being the Act for the Further Facilitation of the Restructuring of Companies (ESUG) which largely came into force as of 1 March 2012. Further modifications were implemented in a second reform which came into force on 1 July 2014.There is only one primary uniform insolvency procedure which applies to both individuals and companies. In the following, we focus on companies.
Foreign suppliers are often not familiar with the legal framework applying in an insolvency of their German customers. That lack of familiarity may leave them ill-prepared to deal with distressed customers. In many cases, the foreign suppliers have not taken the measures necessary to protect themselves.
I plan to provide readers throughout the following months, with information that suppliers may find helpful to better protect their position in case of an insolvency of their German customer. Questions and comments are welcome!
Für weitere Fragen steht Ihnen
folgender Kollege zur
Verfügung:
Berlin
Dr. Thorsten Seidel, LL.M.
T.: +49 (0)30 2 20 02 81 724
E-Mail: Thorsten.Seidel
@bakermckenzie.com
Beendigung von Ergebnisabführungsverträgen bei
M&A Transaktionen und Restrukturierungen
Ergebnisabführungsverträge („EAV“) sind häufig bei M&A Transaktionen und
im Rahmen von Restrukturierungen zu beenden. Zwei neuere
Gerichtsentscheidungen sollten dabei beachtet werden. Andernfalls laufen
die Parteien Gefahr, dass der EAV nicht ordnungsgemäß beendet wird oder
The Financial Crisis, a difficult market situation and a tense liquidity status have led to remarkable difficulties for mid-sized businesses within the past years. Strategic and financial investors have and continue to utilize these circumstances to acquire interesting distressed companies for comparatively moderate purchase prices.
In order to benefit from these circumstances, investors need to understand how to avoid or minimize the risks of liability related to such acquisitions.
This blog refers to Bettina Goletz’s blog on “Limits on non-compete and non-solicitation clauses under German law”. We have recently been asked whether the employee is entitled to compensation payments under a post-contractual non-compete clause in the situation where the employing company files for insolvency.