This Is What Entrepreneurs Need to Know Now If Their Business Is Insolvent

Covid – 19 hits the economy hard. Shops are closed, production is suspended in many companies. The concerns of entrepreneurs are great, many are afraid of bankruptcy in the corona crisis, the Bandera County Courier reported. The federal government wants to prevent the worst with loans and grants. But even if Federal Minister of Economics Peter Altmaier (CDU) promised quick help on Wednesday, it may take time for the money to reach the companies. Many companies would have to file for bankruptcy because they are no longer solvent – even though rescue is approaching. The Federal Government wants to prevent this – as part of its rescue package. Federal Minister of Justice Christine Lambrecht proposed to relax the filing requirements for bankruptcy and thus give the companies a respite. “We want to prevent companies from having to file for bankruptcy only because the aid decided by the federal government does not reach them,” emphasizes the SPD politician. Read more