As of November 9th, the SanInsKG comes into force!

The new Crisis Consequences Mitigation Act (SanInsKG) is intended to prevent companies from having to file for insolvency simply because they can no longer pay energy and commodity prices.

A core component of the SanInsKG is the reduction of the forecast period for a positive continuation of a company as part of the over-indebtedness test (pursuant to Section 19 (2) InsO) from twelve to four months. In addition, the maximum period for filing an insolvency petition due to over-indebtedness (pursuant to section 15a (1) sentence 2 InsO) is increased from six to eight weeks. In addition, the planning period for self-administration and restructuring plans (pursuant to section 270a (1) no. 1 InsO and section 50 (2) no. 2 StaRUG) will be reduced from six to four months. This is intended to facilitate access to insolvency proceedings in self-administration.

However, the mitigation only relates to the reason for insolvency in the form of over-indebtedness (pursuant to Section 19 (2) InsO). If the company is already insolvent, an insolvency petition must still be filed.