Germany: Corporate and Company Law

A crisis at the cash-pool leader does not automatically make cash pooling impermissible. It does, however, materially intensify the review, monitoring and documentation duties of managing directors at the level of each participating company. The key issues are recoverability of the repayment claim, practical access to pooled funds and protection of the company’s own minimum liquidity.

Die Anwendung der Zinsschranke bei Personengesellschaften wirft erhebliche systematische und praktische Fragen auf. Diese treten besonders deutlich bei Beteiligungen von inländischen Steuerpflichtigen an ausländischen Personengesellschaften hervor, wie sie typischerweise bei internationalen Private Equity Strukturen anzutreffen sind.

Shareholder loans serve as vital financing tools for German Mittelstand companies, but they can trigger insolvency obligations when financial difficulties arise. A qualified subordination (qualifizierter Rangrücktritt) offers a solution by converting these loans into liable capital, yet the Federal Court of Justice has established strict substantive requirements that must be met to achieve the desired legal and tax effects.

Failure to remit employee social security contributions in Germany may trigger personal criminal and civil liability of managing directors under Section 266a German Criminal Code.

The European Commission's proposal to revise the Sustainable Finance Disclosure Regulation (SFDR) is advancing through EU institutions with broad support for its core architecture, though critical technical questions remain unresolved.

Mit dem am 30. März 2026 verkündeten BRUBEG hat der deutsche Gesetzgeber nicht nur das „EU-Bankenpaket“ umgesetzt, sondern auch die Befugnisse der Versicherungs- und Finanzaufsicht...

After peak European chemical sector M&A activity in 2021, rising inflation, geopolitical conflict, and destocking led to a decline in sales volumes and profit margins.

The implementation of the new EU Consumer Credit Directive (Directive (EU) 2023/2225, CCD 2) significantly expands the scope of consumer credit regulation.

In disruptive times, CFOs must adapt their financing structures to remain both resilient and competitive. This article, the first in a two-part series, focuses on external financing.