Exactly one year after the publication in the federal gazette, the new German group insolvency law has become effective on April 21, 2018.
For years, the group insolvency law reform was under discussion in legislature and by practitioners and academics. Then, the German parliament – the Bundestag – passed the reform surprisingly fast right before the end of the four-year legislative session in 2017. Since then the discussion on the German group insolvency law has calmed down. Under European law, the new group insolvency law in the European Insolvency Regulation no. 848/2015 is applicable since June 26, 2017. However, noteworthy cases under the new rules have not yet come up. So what will the new German group insolvency law bring? Click here for more.
Location