Suspension of the Obligation to File for Insolvency - (no) Risk for Managing Directors?

2 October 2020

Managing directors and board members should therefore not take any risks and should be able to prove the solvency of their company and the viability of the business model with regard to the end of 2019.

The suspension of the obligation to file for insolvency has now been extended until 31 December 2020. But be careful - this only applies to the reason for over-indebtedness, not to inability to pay! Insolvent companies must file for insolvency from 1 October 2020.