In the Berlin Ministry of justice is currently being sought feverishly to find a solution for the consequences of a wave of insolvencies, the corona due to the over Germany in might break. According to the business courier, and FOCUS Online conversations between all Parties run on it at the moment – among them, in addition to the Ministry of justice, especially the Association of insolvency administrators, the nationwide, approximately 460 lawyers belong to.
Only state aid to keep ailing companies afloat
their common Problem: The adopted in March, support for companies have led to a large number of companies who are already heavily in debt, had no insolvency application.
The Grand coalition had decided to suspend the obligation to apply for Insolvency until September, which should apply to companies that were advised by the Corona-crisis in the wrong location. Not provided, the insolvency applications for jamming, but there’s a and can lead, if you need to finally be implemented, to massive loan defaults at banks. In particular, people’s banks and savings banks have driven therefore, already now, your Pension in respect of credit default significantly high.
in Spite of the Corona-crisis: the number of bankruptcies last even
in March, adopted exception showed an effect that was not intended in the extent of the Federal government, Despite the massive economic downturn in the Wake of the Corona-pandemic decreased the number of insolvencies. In the first half of the year 2020, it decreased compared to the same period last year by more than eight percent to 8900 cases. “The bankruptcy to happen as a barometer of the economic development has been decoupled from the actual Situation of the German companies,” – said the debt collection company Creditreform, the analyzed semi-annually the number of insolvencies in Germany.
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debt of the state support measures, which would, however, causes the opposite of what should actually happen to be. The temporary stop of the obligation to apply for Insolvency should keep an acute rise in bankruptcies, in particular in the case of small and medium-sized enterprises, and prevent the insolvency numbers stable. “In fact, however, the decline in insolvencies shows that such companies are provisionally escaped the bankruptcy, which, had it not been for the virus crisis – the response to the insolvency court would have competed,” analyzes credit reform.
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For Christoph Niering was Chairman of the professional Association, the insolvency administrator, there are way that is why even now no other than the: “We assume that the suspension of the obligation to apply for Insolvency will not be extended beyond the end of September, unless we have numbers in Germany, any further increase of the Infection. Then, insolvent enterprises will be fully obliged to apply for insolvency,“ he urges.
Again, a valid obligation to apply for Insolvency will bring starting in October, broke shaft
Niering has good arguments on his side. Wolfgang Weber-Thedy, the accompanied as an Advisor to companies in bankruptcy and, for example, the bankruptcy of Karstadt in the boat that counts: firstly, would the abolition of the obligation to apply for Insolvency, all of the “achievements” of modern insolvency law largely out of power.
He speaks so that instruments such as the insolvency proceedings in self-administration or the so-called protective shield proceedings, the help to rehabilitate ailing companies. And secondly, Weber-Thedy fears of a wave: If insolvency would be further delayed, coming eventually to a Situation which was no longer manageable. To override the obligation to apply for Insolvency is harmful to the economy and counterproductive. “An extension of the Situation is politically irresponsible,” he says.
the Federal government is considering the extension of the insolvency-suspension
just the plans, however, the Grand coalition in Berlin. You want to suspend the requirement to submit initially, until the end of the year. “Companies that have fought here, that they also may to September, still see light at the horizon,” said, the legal policy spokesman of the SPD, Johannes Fechner in an Interview.
the Union is open to allow for the suspension no longer apply. The aim is not to engage in enterprises without Hardship in the bankruptcy, says the justice policy spokesman of the CDU/CSU parliamentary group, Jan-Marco Luczak. “We will block us, therefore, is not in principle against an extension of the insolvency moratorium.” The Ministry of justice commented to the business courier, that the decision was still up in the air. The consultation of all Stakeholders over yet.
FDP-politician: “suspension may. not a permanent solution,”
To FOCUS Online called Stephan Thomae, Vice-Chairman of the FDP in the Bundestag, further action by the Federal government, marriage is for a constructive solution to late “The suspension of the obligation to apply for Insolvency was as a quick reaction to the first Phase of the Corona pandemic, in principle, correct, but it is not a permanent solution,” said Thomae.
The previous control in a disadvantaged position namely Gläuber, and rides along on the confidence in the economy, the politicians. Because: “the parties have reason to fear, to do with it with a actually, insolvent companies. Finally, a wave of insolvencies threatens, as soon as the obligation to apply for Insolvency it attacks again.”
Thomae that there was a need for a “shield of light”, the company with the core of a healthy business model, non-bureaucratic a rehabilitation and return to economic normality allows. The right tools for this, noted Thomae, would be with the European restructuring Directive of Europe. This will, however, not implemented until the summer of 2021.
“We have called on the Federal government, the implementation is preferable and the proposed remediation methods also apply to companies that have only registered because of the suspension of the obligation to apply for Insolvency no insolvency,” said Thomae. So far have done nothing but: “Unfortunately, the Federal government has not used the time since the suspension of the obligation to apply for Insolvency in March, and seems to miss a Chance for a constructive solution.”
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