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9/19, 2:47 PM (Source: TeleTrader)
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Germany presents proposals to avoid firms going bankrupt

Germany set out on Saturday a set of proposals for insolvency rules easing in order to help avoid companies to go bankrupt due to the coronavirus pandemic.

German Justice Minister Christine Lambrecht (pictured) presented a range of stimulus and relief measures that would take effect at the start of 2021. The deadline for companies to file for insolvency would be prolonged to six from three weeks while the government pledged to impose more relaxed benchmarks when investigating over-indebtedness.

Lambrecht stated that all "companies that can show creditors a realistic prospect of restructuring should be able to implement their concept outside insolvency proceedings."

Breaking the News / TF