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German D&O insurers avoid coverage of directors' liabilities in insolvencies
2023-03-16

Under German law, company directors have a statutory duty to file for insolvency once the company has become insolvent or over-indebted. Company directors can be held personally liable for any payments they make after that point of time unless they prove that they exercised reasonable care, skill and diligence. After the German Federal Court of Justice (Bundesgerichtshof) clarified that standard terms and conditions of German D&O insurance contracts cover this directors’ liability, many D&O insurers have tried to find new ways to avoid their coverage.

Filed under:
Germany, Company & Commercial, Insolvency & Restructuring, Insurance, Litigation, Taylor Wessing, Insolvency, Federal Court of Justice
Authors:
Leopold Bauer
Location:
Germany
Firm:
Taylor Wessing
View Original Article
German D&O insurers avoid coverage of directors' liabilities in insolvencies
2023-03-16

Under German law, company directors have a statutory duty to file for insolvency once the company has become insolvent or over-indebted. Company directors can be held personally liable for any payments they make after that point of time unless they prove that they exercised reasonable care, skill and diligence. After the German Federal Court of Justice (Bundesgerichtshof) clarified that standard terms and conditions of German D&O insurance contracts cover this directors’ liability, many D&O insurers have tried to find new ways to avoid their coverage.

Filed under:
Germany, Company & Commercial, Insolvency & Restructuring, Insurance, Litigation, Taylor Wessing, Insolvency, Federal Court of Justice
Authors:
Leopold Bauer
Location:
Germany
Firm:
Taylor Wessing
View Original Article
German D&O insurers avoid coverage of directors' liabilities in insolvencies
2023-03-16

Under German law, company directors have a statutory duty to file for insolvency once the company has become insolvent or over-indebted. Company directors can be held personally liable for any payments they make after that point of time unless they prove that they exercised reasonable care, skill and diligence. After the German Federal Court of Justice (Bundesgerichtshof) clarified that standard terms and conditions of German D&O insurance contracts cover this directors’ liability, many D&O insurers have tried to find new ways to avoid their coverage.

Filed under:
Germany, Company & Commercial, Insolvency & Restructuring, Insurance, Litigation, Taylor Wessing, Insolvency, Federal Court of Justice
Authors:
Leopold Bauer
Location:
Germany
Firm:
Taylor Wessing
View Original Article
German D&O insurers avoid coverage of directors' liabilities in insolvencies
2023-03-16

Under German law, company directors have a statutory duty to file for insolvency once the company has become insolvent or over-indebted. Company directors can be held personally liable for any payments they make after that point of time unless they prove that they exercised reasonable care, skill and diligence. After the German Federal Court of Justice (Bundesgerichtshof) clarified that standard terms and conditions of German D&O insurance contracts cover this directors’ liability, many D&O insurers have tried to find new ways to avoid their coverage.

Filed under:
Germany, Company & Commercial, Insolvency & Restructuring, Insurance, Litigation, Taylor Wessing, Insolvency, Federal Court of Justice
Authors:
Leopold Bauer
Location:
Germany
Firm:
Taylor Wessing
View Original Article
German D&O insurers avoid coverage of directors' liabilities in insolvencies
2023-03-16

Under German law, company directors have a statutory duty to file for insolvency once the company has become insolvent or over-indebted. Company directors can be held personally liable for any payments they make after that point of time unless they prove that they exercised reasonable care, skill and diligence. After the German Federal Court of Justice (Bundesgerichtshof) clarified that standard terms and conditions of German D&O insurance contracts cover this directors’ liability, many D&O insurers have tried to find new ways to avoid their coverage.

Filed under:
Germany, Company & Commercial, Insolvency & Restructuring, Insurance, Litigation, Taylor Wessing, Insolvency, Federal Court of Justice
Authors:
Leopold Bauer
Location:
Germany
Firm:
Taylor Wessing
View Original Article
German D&O insurers avoid coverage of directors' liabilities in insolvencies
2023-03-16

Under German law, company directors have a statutory duty to file for insolvency once the company has become insolvent or over-indebted. Company directors can be held personally liable for any payments they make after that point of time unless they prove that they exercised reasonable care, skill and diligence. After the German Federal Court of Justice (Bundesgerichtshof) clarified that standard terms and conditions of German D&O insurance contracts cover this directors’ liability, many D&O insurers have tried to find new ways to avoid their coverage.

Filed under:
Germany, Company & Commercial, Insolvency & Restructuring, Insurance, Litigation, Taylor Wessing, Insolvency, Federal Court of Justice
Authors:
Leopold Bauer
Location:
Germany
Firm:
Taylor Wessing
View Original Article
German D&O insurers avoid coverage of directors' liabilities in insolvencies
2023-03-16

Under German law, company directors have a statutory duty to file for insolvency once the company has become insolvent or over-indebted. Company directors can be held personally liable for any payments they make after that point of time unless they prove that they exercised reasonable care, skill and diligence. After the German Federal Court of Justice (Bundesgerichtshof) clarified that standard terms and conditions of German D&O insurance contracts cover this directors’ liability, many D&O insurers have tried to find new ways to avoid their coverage.

Filed under:
Germany, Company & Commercial, Insolvency & Restructuring, Insurance, Litigation, Taylor Wessing, Insolvency, Federal Court of Justice
Authors:
Leopold Bauer
Location:
Germany
Firm:
Taylor Wessing
View Original Article
German D&O insurers avoid coverage of directors' liabilities in insolvencies
2023-03-16

Under German law, company directors have a statutory duty to file for insolvency once the company has become insolvent or over-indebted. Company directors can be held personally liable for any payments they make after that point of time unless they prove that they exercised reasonable care, skill and diligence. After the German Federal Court of Justice (Bundesgerichtshof) clarified that standard terms and conditions of German D&O insurance contracts cover this directors’ liability, many D&O insurers have tried to find new ways to avoid their coverage.

Filed under:
Germany, Company & Commercial, Insolvency & Restructuring, Insurance, Litigation, Taylor Wessing, Insolvency, Federal Court of Justice
Authors:
Leopold Bauer
Location:
Germany
Firm:
Taylor Wessing
View Original Article
German D&O insurers avoid coverage of directors' liabilities in insolvencies
2023-03-16

Under German law, company directors have a statutory duty to file for insolvency once the company has become insolvent or over-indebted. Company directors can be held personally liable for any payments they make after that point of time unless they prove that they exercised reasonable care, skill and diligence. After the German Federal Court of Justice (Bundesgerichtshof) clarified that standard terms and conditions of German D&O insurance contracts cover this directors’ liability, many D&O insurers have tried to find new ways to avoid their coverage.

Filed under:
Germany, Company & Commercial, Insolvency & Restructuring, Insurance, Litigation, Taylor Wessing, Insolvency, Federal Court of Justice
Authors:
Leopold Bauer
Location:
Germany
Firm:
Taylor Wessing
View Original Article
German D&O insurers avoid coverage of directors' liabilities in insolvencies
2023-03-16

Under German law, company directors have a statutory duty to file for insolvency once the company has become insolvent or over-indebted. Company directors can be held personally liable for any payments they make after that point of time unless they prove that they exercised reasonable care, skill and diligence. After the German Federal Court of Justice (Bundesgerichtshof) clarified that standard terms and conditions of German D&O insurance contracts cover this directors’ liability, many D&O insurers have tried to find new ways to avoid their coverage.

Filed under:
Germany, Company & Commercial, Insolvency & Restructuring, Insurance, Litigation, Taylor Wessing, Insolvency, Federal Court of Justice
Authors:
Leopold Bauer
Location:
Germany
Firm:
Taylor Wessing
View Original Article

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