Longer bankruptcy protection?

The Grand Coalition is debating whether to extend insolvency protection for commercial companies in view of the Corona pandemic. So far, the regulation applies until the end of April. The SPD would like a longer period of validity. A spokesman for the Union parties’ parliamentary group was surprised at the initiative: “You shouldn’t be lighthearted with a suspension, since it always mirrors a shortening of creditors’ rights.” After the expiry of the bankruptcy protection, “more legal clarity” is necessary. In addition, the companies would receive payments from the Corona aid programs, the spokesman said.

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