Company organ liability

Liability of company organs

Company organs are subject to strict and complex legal requirements, especially in crisis situations. For example, the law stipulates in section 64 of the Limited Liability Companies Act (GmbHG), sections 92, 93 of the Stock Corporation Act (AktG) and section 130a of the Commercial Code (HGB) that, in the event of company insolvency, the company organs are personally liable for payments made to creditors after the company becomes insolvent or after its over-indebtedness has been determined. The purpose of the aforementioned regulations is to ensure, on the one hand, that the company organs are constantly reviewing the economic situation of the company and that, whenever necessary, they fulfil their obligation to file for insolvency and file an insolvency application. The aim here is to avoid damaging the company’s assets to the detriment of creditors. On the other hand, the regulations serve to replenish the insolvency estate in favour of the creditors in the event that a corporate body has not properly fulfilled its obligation to preserve assets. In addition, there are other possible breaches of duty by managers and company organs that can lead to liability.

Enforcement and defence of claims arising from organ liability with the help of LEONHARDT RATTUNDE

The LEONHARDT RATTUNDE team has many years of experience and expertise in the enforcement and defence of claims arising from liability claims against company organs. Our core areas of expertise are insolvency law and commercial law, also in crisis situations. We have a long and successful track record in handling court cases and dispute resolution. 

We not only support insolvency administrators in asserting liability claims against company organs, but we also represent the legal interests of company organs and offer them expert consultation in defending against liability claims. Our clients also include insurance companies that cover liability risks of company organs with D&O insurance (liability insurance of the company for the benefit of the company organ). 

As we advise and represent both insolvency administrators and company organs, we have expertise and experience in representing both parties. This enables us to include both points of view in our consulting and defence strategies and thereby to offer you optimal advice and representation. Our litigation department works closely together with specialists in commerce from other LEONHARDT RATTUNDE departments, which enables us to offer, where needed, cross-disciplinary representation of interests in court. The LEONHARDT RATTUNDE team meets the legal and business management needs of clients in the most complex situations. 

It is our aim to find a practicable solution for our clients that, in addition to out-of-court and court representation, always includes the possibility of an amicable settlement, insofar as we can recommend one.

Our advantage is your advantage: We advise and represent insolvency administrators and company organs and are therefore familiar with the approaches and perspectives of both sides.

Aktuelle Veranstaltungen

Specialist Course in Insolvency Law - Module 8: Insolvency plan proceedings, self-administration, insolvency plan proceedings

Date: 02-06-2020
Speaker: Prof. Dr. Torsten Martini
H4 Hotel Hamburg-Bergedorf

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