Insolvency Law in Germany
- Tue, November 10, 2020, 10:00 - 11:00
Cost: Members: FREE
Registration Includes: One telephone and web connection at one physical location
US: 10:00am – 11:00am ET
*Please remember the time zone differences if you are not on the East Coast.*
About the Webinar
For the first time in nearly a decade, insolvencies are expected to rise in Germany in the last quarter of 2020. Much to the surprise of creditors, insolvency numbers dropped despite the lockdown in early spring. Lawmakers had reacted instantly. The COVID-19 Pandemic Act “COVInsAG” suspended the legal obligation to file for insolvency in case of over-indebtedness or inability to pay in pandemic-related cases. This suspension will lift from 1 October 2020. Therefore, experts predict a drastic increase of insolvency cases at the end of 2020. Are you now conducting or planning to conduct business in Germany? Get the information you need to help protect your company better. Hear from an in-country attorney about the ins and outs of what occurs before, during and after insolvency in Germany. In addition to upcoming legal changes, this webinar will include a basic run-through of German insolvency procedures for different types of insolvency. It will provide helpful hints and tips for filling out claim forms and how to make a claim in the case of insolvency of a limited company or sole trader.
- The responsibilities of creditors when debtors file
- How the assets of an insolvent company are distributed
- What, if any, options outside of insolvency offer relief to debtors similar to Chapter 11 in the United States
- Whether creditors can force involuntary insolvency on a debtor and what risks are associated with such actions
- Rules to follow for communication with debtors facing financial difficulties to avoid/reduce the risk of contestation by a later insolvency administrator
Join Lutz Paschen, of PASCHEN Rechtsanwälte PartGmbB, as he provides a step-by-step look at what happens and gain a basic understanding of what to expect.
About the Speakers
Lutz Paschen, Attorney at Law, PASCHEN Rechtsanwälte, Berlin
Lutz Paschen is one of the founding partners of PASCHEN Rechtsanwälte, a law firm that is known as one of the top providers of legal enforcement of supplier rights in the B2B sector, as well as insurance recourse in Germany. He leads PASCHEN´s international team and also acts as the current managing partner of the firm.
Lutz earned his legal degree at the German University of Bonn. Following his first state exam, he served as a legal trainee at the Higher Regional Court of Stuttgart, Germany. After working for a corporate law firm in Haifa, Israel, and passing his bar exam, he started as an in-house lawyer in the contract management department of the state-owned agency Treuhandanstalt. In 1993 Lutz founded the law firm “Berendes & Paschen” together with a former colleague from Treuhandanstalt which later was renamed PASCHEN Rechtsanwälte when his co-founder left the firm.
Today, his legal work focuses on international civil and commercial law as well as credit insurance law. He has more than two decades of forensic practice and is thus one of the most experienced litigation attorneys at PASCHEN. As a lobbyist for the German Federal Association of Credit Management, he has also represented the political interests of suppliers over the past five years. Given the COVID-19 pandemic, Lutz is currently committed to a swift implementation of the pre-insolvency restructuring proceedings according to the EU directive on preventive restructuring frameworks with due consideration of creditors' interests.
Instructions to join the Webinar will be sent to the main registrant's email address the day before.
Remember! please log-in at least 15 minutes prior to the webinar commencing to ensure ample time for technical assistance if needed.