Last month the German Parliament passed an Act to modernise the law governing private limited companies – meaning comprehensive changes to the country’s limited liability company law. Klaus von Gierke and Anna Urbaniak report
Germany’s company law reform is one of the most comprehensive changes to the country’s limited liability company law (GmbHG) since it first came into being in 1892. The German Parliament passed an Act to modernise the law governing private limited companies and to combat abuses (Gesetz zur Modernisierung des GmbH-Rechts und zur Bekaempfung von Missbraeuchen, or MoMiG) on 26 June with the changes expected to come into force in October or November this year.
