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Debt collection

Debt collectionGerman Law

For how long can a Creditor demand Repayment of a Loan under German Law?

How does German law treat loan agreements that state no specific repayment date? Germans have the saying "Bei Geld hört die Freundschaft auf" which loosely translates as "it's better not to mix friendship and money matters". Friends or relatives do borrow money though. What often causes problems is that the parties feel uncomfortable about creating a formal, written agreement. The approach tends to be: "We are good friends and trust each other, therefore we do…
Bernhard Schmeilzl
April 8, 2015
Debt collection

How Assets are distributed to Creditors through Corporate Insolvency

General principles of asset distribution in insolvency (UK) By definition, an insolvent company does not have sufficient assets to pay in full all the liabilities that it owes to its creditors. Accordingly, one of the primary functions of both administration and liquidation of a company is to realise the assets of the insolvent company and to distribute those case realisations made from those assets among the insolvent company's creditors. The Insolvency Act 1986 and Insolvency…
Elissa Jelowicki
February 25, 2015
Debt collection

Need to Chase a Debt in the UK but Fear the Debtor is Insolvent?

Your quick guide to the basics of Personal Insolvency in the UK The two main insolvency procedures available to insolvent individuals in England and Wales are: (i) Bankruptcy and (ii) Individual voluntary arrangements. This note will focus on bankruptcy and not individual voluntary arrangements. What is bankruptcy? Bankruptcy is a process by which the assets of a debtor are realised and distributed amongst his creditors. The main features of a bankruptcy are: The debtor's beneficial…
Elissa Jelowicki
November 13, 2014
Business in GermanyConveyancing GermanyDebt collectionGerman LawGoing to court

English Lawyers in Germany

Solicitor Jelowicki von Grafenstein in Munich Whether you have been involved in a car accident in Germany, need advice on German labour law or other contract matters, plan to start a German business, want to buy a house in Germany or need to swear an oath before an English solicitor, the Munich based law firm Graf & Partners can provide the necessary legal advice and representation. The firm was established in 2003 and speciales in British-German…
Bernhard Schmeilzl
November 7, 2014
Civil actionDebt collectionGoing to court

How expensive is a German Lawsuit?

Mandatory Legal Fees in German Civil Law Matters We have shown here that chasing a debt in Germany is fairly easy and quick. While we also explained the basic rules regarding court and lawyer fees in section 3 of said article many readers ask us how much an actual lawsuit will cost them. Thus, here a more practical approach to that question, explained by the German litigation experts of Graf & Partners (Civil Litigation Department):…
Bernhard Schmeilzl
November 11, 2013
Civil actionDebt collectionFamily LawGoing to court

Alimony in Germany: Child Maintenance and Financial Support for Single Mothers

How much Child Support is due in Germany? You are or have been in a relationship with a German woman. She is pregnant and wants you to pay alimony for the newborn-to-be. But you are not sure whether you are the father. What to do? This post deals with unmarried couples only. For children born in marriage, German law presumes that the husband is the father. If the husband has doubts about this then he…
Bernhard Schmeilzl
September 2, 2013
Civil actionDebt collectionGerman LawGoing to courtProfessional Regulations

So you want to practice Law in Germany?

Update for British readers: This post explains the pre-Brexit legal situation There are an impressive 160,000 advocates (Rechtsanwälte) registered to practice law in Germany (from the official statistics of the German Bar Association: German Advocates in February 2013). However, that doesn't mean there are not interesting opportunities for British lawyers who are considering practising law in Germany: Many German companies (have to) negotiate and draft agreements with international business partners in the English language and…
Bernhard Schmeilzl
August 8, 2013
Civil actionDebt collectionGerman LawGoing to court

Serving Documents in Germany

Find and and tackle your German debtor You need to serve court papers or other important legal documents to a person living in Germany? But you also expect this person may try to avoid getting served? Maybe you have already tried sending documents by courier and the addressee has not opened the door or the courier employee was not able to locate the debtor. Now what? Service by German Bailiff You will probably google for…
Bernhard Schmeilzl
June 20, 2013
Civil actionCriminal LawDebt collectionGerman LawGoing to court

Limitation under German Law

When do German claims become statute barred? Limitation periods (in German: Verjährungsfristen) impose time limits within which a party must bring a claim, or give notice of a claim to the other party. They are imposed by statute, primarily sections 194 to 218 German Civil Code (Bürgerliches Gesetzbuch, BGB). The standard limitation period is three years (section 195 BGB), thus significantly shorter than limitation according to English law. For many constellations there are - of…
Bernhard Schmeilzl
June 19, 2013