The basic provisions granted by the legislator as a protective shield for old-age provision are not comprehensive. The approach of professional asset protection starts with the consideration of an early division of assets. By separating the professional risks within the framework of a corporation from the private assets, a liability block is created quite legally. […]
What insurance agents and brokers should look out for in terms of self-protection Service commissions and follow-up commissions may be forfeited upon separation of the agent from the pool or distributor if the distributor is sold or liquidates its holdings, including the insolvency of a broker pool. Insurance agents and brokers are therefore readily […]
Many a policyholder decides too late on the possible change in the subscription right of his life insurance policy(ies). It is therefore important to think about the possible consequences at an early stage. The authors pointed out seven specific pitfalls. Red. If the policyholder instructs his broker to change the subscription right, it is […]
The legislator has restricted the obligation to file for insolvency for all companies in Germany without exception. An alternative to “continuing to operate until insolvency” can be restructuring by means of “structured insolvency”. German companies would be allowed to continue operating over-indebted, without going bankrupt. The relevant statutory provision is § 19 II of the […]
Financial Market Stabilisation Act eliminates capital requirement Munich. In connection with the Financial Market Stabilisation Act (FMSTG), changes have been made to the Insolvency Code. Thus, the legislator has now restricted the obligation to file for insolvency for all companies in Germany without exception. To put it bluntly, even companies that have actually long […]
Credit risks due to changes in the insolvency code The Financial Market Stabilisation Act (Finanzmarktstabilisierungsgesetz – FMSTG) eliminated the equity capital requirements for companies that had previously been customary: At its core, this relates to the amendment of the provision of section 19 II of the Insolvency Code (InsO), according to which over-indebtedness now only […]
