{"id":2886,"date":"2020-05-25T07:50:25","date_gmt":"2020-05-25T05:50:25","guid":{"rendered":"https:\/\/www.maiwald.eu\/all\/maiwald-blog\/covid-19-insolvency-suspension-act-covinsag-insolvency-filing-by-creditors\/"},"modified":"2021-10-06T19:03:28","modified_gmt":"2021-10-06T17:03:28","slug":"covid-19-insolvency-suspension-act-covinsag-insolvency-filing-by-creditors","status":"publish","type":"maiwald-blog","link":"https:\/\/www.maiwald.eu\/en\/maiwald-blog\/covid-19-insolvency-suspension-act-covinsag-insolvency-filing-by-creditors\/","title":{"rendered":"Covid-19-Insolvency Suspension Act (Covinsag) Insolvency Filing by Creditors"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">As recently reported, the COVInsAG of 27 March 2020 <strong>suspends<\/strong> the <strong>obligation to file for insolvency<\/strong> for legal entities with limited liability pursuant to section 15a InsO and for associations in the event of insolvency caused by the COVID 19 pandemic until 30 September 2020.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Correspondingly, the <strong>filing for the initiation of insolvency applications by creditors<\/strong> regarding the assets of their debtors pursuant to section 14 InsO is also <strong>postponed<\/strong> for three months by COVInsAG. Until June 28, 2020, the opening of insolvency proceedings based on an application by a creditor is subject to the condition that the reason for the initiation of insolvency proceedings already existed on March 1, 2020. In concrete terms, this means that <strong>non-solvency or over-indebtedness<\/strong> must already have existed on <strong>March 1, 2020<\/strong> for creditor insolvency applications filed between March 28, 2020 and June 28, 2020.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">If the creditor is <strong>unable to substantiate, <\/strong>at the time of filing the insolvency petition, that the reason for insolvency already existed on 1 March 2020, he must expect the petition to be <strong>rejected<\/strong> as unfounded. It is therefore not advisable to make a hasty application, also in view of the fact that the regulation can be extended by decree to apply until 31 March 2021.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In any case, an application for insolvency regarding the assets of a debtor should be well-considered &#8211; in the worst case the creditor may be exposed to <strong>claims for damages<\/strong> if the application is unjustified.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/www.bmjv.de\/SharedDocs\/Gesetzgebungsverfahren\/Dokumente\/Bgbl_Corona-Pandemie.pdf;jsessionid=DD10863DF26C4DCE74DAD49548AE2A32.1_cid324?__blob=publicationFile&amp;v=1\" target=\"_blank\" rel=\"noopener\">Gesetz zur vor\u00fcbergehenden Aussetzung der Insolvenzantragspflicht und zur Begrenzung der Organhaftung bei einer durch die COVID-19-Pandemie bedingten Insolvenz<\/a><\/p>\n","protected":false},"template":"","meta":{"_acf_changed":false,"footnotes":""},"class_list":["post-2886","maiwald-blog","type-maiwald-blog","status-publish","hentry"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.maiwald.eu\/en\/wp-json\/wp\/v2\/maiwald-blog\/2886","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.maiwald.eu\/en\/wp-json\/wp\/v2\/maiwald-blog"}],"about":[{"href":"https:\/\/www.maiwald.eu\/en\/wp-json\/wp\/v2\/types\/maiwald-blog"}],"version-history":[{"count":1,"href":"https:\/\/www.maiwald.eu\/en\/wp-json\/wp\/v2\/maiwald-blog\/2886\/revisions"}],"predecessor-version":[{"id":9709,"href":"https:\/\/www.maiwald.eu\/en\/wp-json\/wp\/v2\/maiwald-blog\/2886\/revisions\/9709"}],"wp:attachment":[{"href":"https:\/\/www.maiwald.eu\/en\/wp-json\/wp\/v2\/media?parent=2886"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}