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New German Legislation on Measures to Combat Effects of Coronavirus

March 25, 2020, Covington Alert

In order to mitigate the effects of the Corona-pandemic on the ability of enterprises to pay their current liabilities, the German parliament has passed a law today containing a set of measures dealing, inter alia, with (i) the obligation to file for insolvency, (ii) certain liability risks of individual directors and managers in connection with a potential insolvency, (iii) the termination of lease agreements, and (iv) liability and claw-back risks resulting from the provision of new credit in the crisis.

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