News
Interesting articles and reports :
The evolution of employment and skills in the age of AI
Source: McKinsey Quarterly Reports, August 2017
Insolvency law
Redefinition of the term “indebtedness”
By law to implement a package of measures to stabilize the financial market (Financial Market Stabilization Act) and the Act to modernize the law and to combat abuses (MoMiG), the insolvency law term indebtedness in § 19 of Bankruptcy Act (Insolvency Act) in Oct. 2008 with a term until the end of 2010 was redefined. In a second step this scheme has been extended in view of the duration of the financial crisis until 2013.
In November 2012 the German Government has extended this scheme indefinitely because of it’s high acceptance and experience with the scheme in practice.
From now on a positive continuation prognosis by itself excludes indebtedness for an enterprise according to § 19 of the German Bankcrupty Act.
The Government argued, there is no reason to take an enterprise out of business as long as it pays it’s liabilities when they are due.