News 24 Jun. 2021
Curtis successfully defends foreign states' procedural privileges in the UK Supreme Court
News 23 Jun. 2021
Ibrahim Elsadig joins Curtis as Partner in Dubai
News 09 Aug. 2021
Curtis, Mallet-Prevost, Colt & Mosle enters into association with Chevalier Law in Singapore.
Event 23 Apr. 2021
Partner Borzu Sabahi to speak on Damages, Enforcement and Annulment of Arbitral Awards at Executive Training Program hosted by the Government of India and the Indian Institute of Foreign Trade
Client Alert 18 Oct. 2021
Senior Associate Martin Wolff Discusses Practical Questions with Regard to the German Implementation of the EU Directive on Cross-Border Tax Arrangements (DAC6) in Institutional Money
News 18 Oct. 2021
Jan Krupski Joins Curtis as a Partner in Frankfurt
News 15 Oct. 2021
Claudia Frutos-Peterson and Elisa Botero Ranked Among the Top 100 Female Lawyers in Latin America by Latinvex
News 13 Oct. 2021
Curtis Joins The Appellate Project to Promote Appellate Practice to Diverse Law Students
Client Alert 15 Oct. 2021
Recent change in Dubai’s Arbitration Landscape.
News 20 Sep. 2021
Curtis Successfully Defends the Sultanate of Oman and Oman Aluminium Rolling Company LLC in U.S. Department of Commerce Trade Case
Client Alert 05 Oct. 2021
Proposed Legislative Changes to Federal Estate, Gift and Trust Taxation
Publications 22 Sep. 2021
Client Alert 24 Jun. 2021
U.S. Insight: Update on Virtual Notarization (Executive Order 202.7) During the COVID-19 (Coronavirus) Pandemic (Updated: June 24, 2021)
U.S. Insight: Update on Virtual Witnessing (New York Executive Order 202.14) During The COVID-19 (Coronavirus) Pandemic (Updated: June 24, 2021)
Client Alert 30 Mar. 2020
Click here to download a PDF copy of this alert.
The spread of the novel SARS CoV-2 virus (COVID 19 pandemic) has significant negative effects on public life and in particular economic consequences for many citizens and businesses. In order to mitigate these economic consequences, the German legislator passed the Law to mitigate the effects of the COVID 19 pandemic in civil, insolvency and criminal procedure law on 27 March 2020 (“COVID 19 Act”), which regulates the following key points:
I. Lease and Property
For tenants and leaseholders it will be a particular problem to pay the current rent for residential or commercial space. Therefore COVID 19 Act stipulates that for tenancies of land or of rooms, the right of the landlord to terminate tenancies is temporarily restricted. This applies to both residential and commercial leases. Therefore the act statutes:
In the event of bankruptcy, not only creditors can file for bankruptcy, but also the managers of limited liability companies are obliged to file for bankruptcy. The aim of COVID 19 Act is to give the companies and their representatives time to take the necessary precautions to eliminate insolvency maturity. Therefore the act statutes:
The obligation of managers of liable corporate entities to file for bankruptcy with criminal and liability penalties is suspended for a temporary period. Companies do not have to file for bankruptcy by 30 September 2020.
If such an enterprise continues to make payments such as rent, these payments are not contestable by the subsequent insolvency administrator.
III. Commerical and Corporate
For companies and associations, COVID 19 Act provides for temporary facilitation’s for the holding of general meetings and makes provisions for the continued existence of certain appointments to governing bodies. Therefore the Act statutes:
IV. Consumer Protection
To mitigate the economic consequences of the corona pandemic for individual consumers, COVID 19 Act also stipulates the following:
Attorney advertising. The material contained in this Client Alert is only a general review of the subjects covered and does not constitute legal advice. No legal or business decision should be based on its contents.
Banking and Finance
Commercial Disputes - Litigation
Commercial Disputes - Arbitration
Mergers and Acquisitions
Commercial and Residential Real Estate
Dr. Karsten Rahm
+49 69 247 576 0