insolvency in Germany

Insolvency in Germany The Insolvency Law was first adopted in Germany in 1999 and has undergone through changes during the last years. The German Insolvency Code was last modified in 2012 when the Act for the Further Facilitation of the Restructuring of Companies (Erleichterung der Sanierung von Unternehmen, ESUG) was adopted. Bankruptcy procedures can be initiated against both German companies and individuals.…