Germany: Berlin says flood-damaged businesses don"t have to file for bankruptcy

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The German cabinet has decided to suspend bankruptcy filing requirements for businesses affected by the catastrophic flooding in western Germany, said a government spokesperson on Wednesday in Berlin.

“Affected companies can suffer from over-indebtedness or insolvency through the heavy rain and flood, and with that, there is the obligation to file an application for insolvency,” said spokesperson Ulrike Demmer, “The drafted bill includes a suspension of the obligation to file an application for insolvency in cases where the insolvency is related to the floods during July 2021.”

The proposal still requires the sign off of Germany’s parliament but should offer flood-hit businesses more time to rearrange their finances in the wake of the disaster, and potentially stay afloat.

Regarding foreign affairs, a German Foreign Ministry spokesperson expressed criticism regarding the situation in Lebanon, as the country marks the first anniversary of the devastating Beirut port explosion that left over 200 dead and thousands injured.

“The situation one year after the explosion in Lebanon is unsatisfactory. The reforms which have been promised, and are urgently necessary, have not been delivered,” said spokesperson Maria Adebahr.

Berlin is also monitoring developments at the Belarusian-Lithuanian border and trying to put forward solutions to stop illegal border crossings, according to Demmer.

SOT, Ulrike Demmer, German government spokesperson (German): “The German chancellor and the whole federal government is very aware about that the flood catastrophe resulted in unbelievable suffering for the affected and terrible devastation with very considerable damages and that quick support is now the most important thing.”

SOT, Ulrike Demmer, German government spokesperson (German): “The federal government is standing next to the affected states and participates in overcoming this extraordinary situation and its consequences.”

SOT, Ulrike Demmer, German government spokesperson (German): “Affected companies can suffer from over-indebtedness or insolvency through the heavy rain and flood, and with that, there is the obligation to file an application for insolvency. The drafted bill includes a suspension of the obligation to file an application for insolvency in cases where the insolvency is related to the floods during July 2021.”

SOT, Maria Adebahr, German Foreign Ministry spokesperson (German): “The situation one year after the explosion in Lebanon is unsatisfactory. The reforms which have been promised, and that are urgently necessary, have not been delivered. The situation for the citizens has been made worse, including shortages of food, and the demand to come to a quick forming of a government was very very strongly expressed again today during the conference.”

SOT, Ulrike Demmer, German government spokesperson (German): “We are following the developments at the Belarusian-Lithuianian border very closely. The Lithuanian government has to overcome very difficult situation because of the current developments, where she can count on the support of the European partners.”

SOT, Ulrike Demmer, German government spokesperson (German): “There are several of talks going on with the origin countries of the refugees, to look into how to prevent this form of irregular migration together, and this is a course which been supported by the federal government.”

SOT, Steve Alter, German Interior Ministry spokesperson (German): “In the last week, Lithuania noticed several illegal border crossings in a region where this has not happened before. This is an alarming development and the German Interior Minister made it clear that a working border is important for the fate of the European Union, therefore, Lithuania has to be supported in protection of the external border.”
#Germany #floods #bankruptcy
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