About Corine Fopma

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So far Corine Fopma has created 168 blog entries.

INSURERS IN GERMANY DO NOT WANT TO EXTEND “SCHUTZSCHIRM”

Will the protection for trade credit (= schutzschirm) be extended? The insurers are now taking a clear position: after June 30, they no longer want to make use of the government guarantee, which covers default risks for an amount of 30 billion euros. Bad news for many non-food retailers: the government's protective umbrella for [...]

By | March 29th, 2021|news|Comments Off on INSURERS IN GERMANY DO NOT WANT TO EXTEND “SCHUTZSCHIRM”

GREAT CONCERNS ABOUT CREDIT INSURANCE

What happens if the protection procedure (= schutzschirmverfahren) for trade credit insurance in Germany ends at the end of June? Atradius and Coface are trying to address concerns. Market leader Euler Hermes does not want to talk. Trade credit insurance is on the agenda of many treasury departments in the wake of the corona [...]

By | March 29th, 2021|news|Comments Off on GREAT CONCERNS ABOUT CREDIT INSURANCE

GERMAN REMEDIATION TOOLS DURING CORONA: ‘SCHUTZSCHIRMVERFAHREN’ UND ‘EIGENVERWALTUNG’

Even if state aid, special loans and deferred claims help companies cope with the consequences of the closure of COVID-19, they often have only a temporary effect and cannot compensate for lost sales. At the latest when loans and deferred claims have to be repaid and the obligation to file for insolvency is revived, [...]

By | March 24th, 2021|news|Comments Off on GERMAN REMEDIATION TOOLS DURING CORONA: ‘SCHUTZSCHIRMVERFAHREN’ UND ‘EIGENVERWALTUNG’

CORONA AND CONTESTED INSOLVENCY IN GERMANY (INSOLVENZANFECHTUNG)

The suspension of the obligation to file an insolvency petition exacerbates another problem for companies that have received payments from their debtors during this period. Because if they do have to file for insolvency in the coming years, German insolvency law gives the trustee the right to reclaim payments made by the debtor up [...]

By | March 23rd, 2021|news|Comments Off on CORONA AND CONTESTED INSOLVENCY IN GERMANY (INSOLVENZANFECHTUNG)

SUSPENSION OF BANKRUPTCY OBLIGATION IN GERMANY ONLY UNTIL APRIL 30TH!

In Germany, unlike other European countries, there is an obligation to file for bankruptcy if a company is insolvent or has excessive debts. This obligation applies to all legal entities (GmbH, UG, AG, GmbH & Co.KG), but not to natural persons (even if they have a business) or partnerships in which a natural person [...]

By | March 21st, 2021|news|Comments Off on SUSPENSION OF BANKRUPTCY OBLIGATION IN GERMANY ONLY UNTIL APRIL 30TH!

JAN SCHNEIDER-MAESSEN FROM BvCM: “MORE VIGILANCE REQUIRED”

Almost 30 percent of German companies have taken precautionary measures in their credit management for the current corona wave. At the same time, many companies allow long payment terms - a high risk in the current situation. This is the result of the latest survey by the Bundesverbandes Credit Management (BvCM) on the consequences of [...]

By | March 21st, 2021|news|Comments Off on JAN SCHNEIDER-MAESSEN FROM BvCM: “MORE VIGILANCE REQUIRED”

LIMITED PERIOD DEVOURS LIQUIDITY!

All fashion companies that do business in Germany and have agreed to the application of German law are in danger of permanently losing the right to old claims at the end of the year. At the end of the year, all claims that arose under German law in 2017 will expire and therefore expire [...]

By | December 14th, 2020|news|Comments Off on LIMITED PERIOD DEVOURS LIQUIDITY!

DOING BUSINESS IN GERMANY: PITFALLS AT THE END OF THE YEAR!

Those who do business in the fashion industry mainly in Germany must now urgently prepare for the end of the year. Not only because the tightened corona lockdown puts the hoped-for lucrative Christmas sales of retail customers in acute danger and with it the delicate balance of payments agreements, delays in delivery and the [...]

By | December 14th, 2020|news|Comments Off on DOING BUSINESS IN GERMANY: PITFALLS AT THE END OF THE YEAR!

Coronavirus will cause the sharpest contraction since the Great Depression

The global economy will contract by 4.1 percent The rapid succession of developments relating to the coronavirus is leaving deep scars in the global economy. We are currently forecasting that the global economy will contract by 4.1 percent in 2020, and then grow by 4.3 percent in 2021 (Table 1). This means that the [...]

By | June 15th, 2020|news|Comments Off on Coronavirus will cause the sharpest contraction since the Great Depression

Number of bankruptcies increases by 14 percent worldwide

The unprecedentedly large state aid measures and repayment breaks by banks cannot prevent a wave of bankruptcies from rolling over the world in the coming months. Globally, the number of bankruptcies will increase by 14%. This is evident from joint research by the research departments of Euler Hermes, the largest credit insurer in the [...]

By | March 31st, 2020|news|Comments Off on Number of bankruptcies increases by 14 percent worldwide