Because of the coronavirus pandemic, Federal Justice Minister Christine Lambrecht (SPD) wants to exempt overindebted companies from the obligation to file for bankruptcy for a longer period of time. "In order to give overindebted companies due to the pandemic time to restructure themselves through the economic activity that is picking up again in many industries or government offers of assistance, I will propose that these companies continue to suspend the obligation to file for insolvency until the end of March 2021," Lambrecht told Bild. The extended suspension should only apply to companies that are over-indebted but not insolvent.
The federal government had suspended the obligation to file for bankruptcy until the end of September. Firms that were hit by the pandemic should be given the leeway to apply for state aid and push ahead with restructuring efforts.
The deputy chairman of the CDU / CSU parliamentary group already announced support in the picture . The Union will support the minister's proposal with restrictions in the Bundestag. An extension until the new year is too long: "I consider the end of the year to be a reasonable time. This is how we ensure that companies that have a chance of recovery can recover for another three months."