On 26 June, the German Parliament passed the Companies Law Reform Act (MoMiG). While it still needs the approval of the council of states (Bundesrat), the Act is expected to come into force by November. The reform is far-reaching and primarily affects the two most significant corporate forms in Germany, the private limited liability company (GmbH) and the limited partnership, where a GmbH is the general partner (GmbH & Co. KG), although it also has some effect on stock corporations (AG). The public focus has been on the possibility of using a so-called 'entrepreneur's company' (Unternehmergesellschaft), a special GmbH, which will not require equity contributions but will require retained earnings until a certain equity level has been reached. Also, it will be possible to rely on shareholder lists filed with the commercial register.
July 30, 2008 at 10:04 PM
1 minute read
The original version of this story was published on Legalweek
Germany’s leveraged finance lawyers have welcomed the country’s wide-ranging company law reforms. Stefan Kilgus reports
On 26 June, the German Parliament passed the Companies Law Reform Act (MoMiG). While it still needs the approval of the council of states (Bundesrat), the Act is expected to come into force by November.
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