German-British Corporate Lawyers of Graf & Partners (Munich) coach newly appointed directors, CEOs and managers of German and English companies and corporations
German Corporation Law and Limited Liability companies hold a number of surprising differences compared to UK or US company law. Have you, for example, ever heard of the German principle of “Kapitalerhaltungsgrundsatz” (i.e. the manager’s duty to maintain the minimum share capital)? Well, if you intend to act as the director of a German GmbH you should have, because if you violate this statutory obligation you might not go to jail, but you will face both civil claims and criminal charges nontheless and – if you are found in breach of these German company law principles – you will be barred from acting as a company director for at least five years. The same principle is true if you do not immediately file for insolvency if and when your German company either has negative equity or is insolvent. And, by the way, the company is already considered to be insolvent if invoices are not being paid within 10 days.
The speakers are German company lawyer Bernhard Schmeilzl, LL.M. (called 2001) and British-Canadian solicitor Elissa Jelowicki.
More on German company law is available in these posts:
– – – –
The law firm Graf & Partners and its German-English litigation department GP Chambers was established in 2003 and has many years of experience with British-German and US-German business and corporate matters, including the representation of clients in M&A transactions. If you wish us to advise or represent you please call German business lawyer Bernhard Schmeilzl, LL.M. (Leicester) or Munich based English solicitor Elissa Jelowicki on +49 941 463 7070.