Читать книгу Las reestructuraciones de las sociedades de capital en crisis - Aurora Martínez Flórez - Страница 44

Directors of companies are obligated to file for an insolvency procedure at the competent court, sec. 15a of the insolvency act. The duty is triggered by indebtedness of the company or illiquidity. Indebtedness is assumed if the debts outweigh the assets, according to a special insolvency balance [sec. 19 (2) German Act on Insolvency] (...). The mere fact that assets do not cover any more debts does not suffice to trigger the duty to file for insolvency. In addition, a negative prognosis concerning the further future of the company is required (...). After some back and forth of the German legislator concerning this so-called modified notion of indebtedness2) the German Parliament finally adopted the element of a negative prognosis during the financial market crisis.