COVID-19: Temporary Changes to German Corporate Law

1 April 2020
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Key takeaways:

  • As part of the Covid19 emergency legislation, the German Government accelerated deadlines and streamlined proceedings in connection with stockholder meetings of German stock corporations (AGs), public companies limited by shares (KGaA) and European public limited companies (SEs).
  • For the first time, management can order a virtual annual general meeting with the consent of the supervisory board.
  • The interim law curtails the rights of stockholders to launch voidance proceedings with respect to certain formalities, thereby creating more reliability for resolutions taken in stockholder meetings.