70 results found

A German court has ruled that an employee with a company-funded D&O insurance policy can be held fully liable for millions in damages after falling victim to a CEO fraud scheme. The landmark decision challenges traditional employee liability protections and raises critical questions about the interplay between insurance coverage and workplace negligence standards.

Managing directors and compliance officers (CO) who are actively involved in criminal offences against third parties can be punished as perpetrators or aiders and abettors.

The list of potential and actual causes of claims in Germany is growing rapidly.

In a recent ruling, The Federal Court of Justice emphasizes the supervisory board's obligation to pursue claims ...

The Munich District Court N° I has decided that each individual board member has to ensure that his company is organized and monitored.

Unfortunately, the legislator has also failed to regulate the consequences of the suspension of the obligation to file for insolvency.

Each year we prepare a publication focussed on providing practical insights for Boards and GCs, and also for Financial Sponsors and their Portfolio Companies, on emerging and perennial issues which we expect to be topical in the coming months.

Courts as well as local authorities become increasingly sensitive to the misuse of any individual's personal data.

After many had proclaimed the German StaRUG to have failed as an effective preventive restructuring regime, there appears to have been a recent increase in cases.

The termination of the appointment is achieved by a shareholders' resolution revoking the appointment of the managing director.

Companies facing financial distress must carefully evaluate their restructuring options, with protective shield proceedings offering a unique opportunity to prepare an insolvency plan while maintaining existing management. This specialized form of preliminary self-administration requires precise timing and thorough preparation, as it is only available when a company faces imminent illiquidity or over-indebtedness but has not yet become actually illiquid.

It is normal practice for international investors to hold discussions with a target company's management body. When investing elsewhere, there is often only one board, which combines the company's management

Appointing a foreign national as the managing director of a German limited liability company ("GmbH") is a wellestablished practice in Germany.

In the context of corporate acquisitions, the managing directors of the acquiring company are regularly faced with the question of the scope of the “due diligence,” the review of the target company.

Any business should protect themselves and their directors and officers against personal claims and investigations the best way possible.

The European Union has formally adopted a directive establishing minimum standards for insolvency law harmonization across Member States, covering avoidance actions, asset tracing, pre-pack proceedings, director filing duties, creditors' committees, and transparency measures. While the directive sets baseline requirements in these critical areas, its practical impact on German insolvency law is expected to be limited, as Germany's existing framework already meets or exceeds most of the directive's standards

In a series of judgments the German courts have subjected directors of UK limited companies with 'centres of main interest' (COMI) in Germany to German insolvency law.