Liability of all managing directors of German GmbHs (CEO, COO, CFO, CTO, CREATIVE, HR) in cases of over-indebtedness and insolvency
These financial supervisory duties are - in fact - not limited to the regular review of bank statements or common conferences with the CEO or CFO. In particular, they include plausibility checks of the information obtained by comparison of the commercial evaluations (BWA) with the bank account statements. Particular attentiveness is expected from all managing directors. Precisely in cases when they should notice a financial imbalance, they are obliged to carry out more thorough checks. Likewise ruled the German Federal Supreme Court on 06.11.2018 (Az II ZR 11/17).
MBA for Finance and Financial Services (UK), Steuerfachwirt (GER)