Corporate & Commercial
Does the new Intervention Measures Act amend the presumptions of insolvency of a company, sole proprietor or private individual in the applicable law?
The new Intervention Measures Act sets for the that a legal person, sole proprietor or private person has become permanently illiquid also in the case that the payment of wages and social contributions to employees has been delayed by more than one month since the reimbursements of wages and social contributions under the intervention acts have been received.
The presumption of insolvency is applicable for four months after the termination of the measures, i.e. until 30 September, 2020 or until 31 October, 2020, in case of extension.
