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Resend confirmation link?For many managers of companies, D&O insurance has become a standard. A new ruling by the Oberlandesgericht in Celle could now lead to disquiet among many CFOs. According to the court, prohibited payments by the CFO in case of insolvency are no longer covered by D&O insurance.
The insolvency administrator can therefore reclaim such payments in the future from the institutions. Moreover, it is important here that a prohibited payment must be reimbursed irrespectively of whether actual damage to the insolvency stock has occurred in exactly the same amount. It is therefore not a property damage, but rather a claim to compensation of a particular kind. However, many insurances insure only a property damage.
We at biz4.sale strongly recommend that you check your existing protection and, if necessary, adjust it.
More information in German is available here: