Page 300 - Betriebshandbuch ebook Julni2107

Overindebtedness
I/4.3
inno:va Steuerberatungsgesellschaft mbH
Insolvenz
Short info - legal measures to avoid balance sheet deficit“
by Frank Heesen - tax advisor
July 2015
Overindebtedness in accountancy terms of a limited liability company
If the company's equitiy in the statutory accounts shows a deficit at the balance sheet date, the company is overindebted in accountancy terms. Thereof, special statutory obligations and responsibilities are resulting for the management board. For your information, please find a summary of those obligations below.
1. Obligation to file for insolvency according to § 15a InsO
The managing director has to file an application for insolvency without undue delay, however, at the latest, three weeks after the occurence of overindebtedness or insolvency. The managing director is personally liable for any damage resulting from the delayed filing of the application for insolvency.
Overindebtedness in accountancy terms does not imply automatically that the company is overindebted in terms of InsO (German Insolvency Code). Based on the current legislation there is overindebtedness in terms of InsO if the existing liabilities exceed the assets - evaluated with the current fair of value - and at the same time going concern is predominantly not likely based on the current situation of the company.
Thus, a favorable going concern forecast for the company excludes overindebtedness. The forecast has to be verified based on a business and financial plan and a feasible corporate concept. If going concern is not likely for the company, in a second step it has to be analyzed, if - based on a liquidation
© Innova Steuerberatungsgesellschaft mbH Mönchengladbach • Düsseldorf Telefon MG.: 02161 551381 Telefon Düsseldorf: 0211 5285692 Fax: 02161 551385 I/4.3 Stand 08.2015 Overindebtedness
www.innovaGmbH.net e-mail: info@innovaGmbH.net Seite 2 von 6