Tuesday, September 16, 2008

Walking Stick With Seat

MoMiG in the Bundesrat: The Legal Committee recommends to approve the law by not conciliation.

Update: Based on the preview for the 847th Plenary meeting of the Federal Council can be seen that the Legal Committee recommends to approve the law by not conciliation. It seems to - presumably - to be no further delays to the entry into force of MoMiG.

Source: preview the Federal

Act to modernize the GmbH law and to combat abuses (MoMiG)

printed matter 615/08

The law wants the international competitiveness of German company with limited liability increase. Start-ups are easier in the future and registry entries faster. Is complicated, however, the improper handling of distressed or insolvent companies by "Company Services".

The German Bundestag adopted the bill by the government in a new version and it picked up many suggestions of the Federal Council of its opinion of July last year. Thus, the passages for easier incorporation were changed also, in the covert kind. Instead of criticizing the countries of model statutes, the law now in front of an endorsed standard cases establishing protocol. It remains at the level of minimum capital of 25,000 € for the "classical" GmbH. New is the possibility of a capital in the form of authorized capital. The equity compensation law in the Bankruptcy Act is supplemented by regulations on capital-replacing grant of use.

Committee recommendation : The Legal Committee recommends to approve the law by not conciliation.

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