As managing director, you bear enormous responsibility in a crisis \u2013 not only for the company, but also personally. Mistakes or omissions in this phase can lead not only to civil liability but also to criminal consequences. The good news: with the right knowledge and professional advice, you can minimize these risks.<\/p>\n\n\n\n
In a crisis, there are clear legal regulations; failure to comply with them can quickly lead to personal liability. The biggest risks include:<\/p>\n\n\n\n
One of the most serious liability pitfalls is delayed filing for insolvency. If the company is illiquid or over-indebted, there is a duty to file for insolvency without delay. In Germany, this must be done within a maximum of three weeks<\/strong> after the onset of insolvency.<\/p>\n\n\n\n Risk:<\/strong><\/p>\n\n\n\n Solution:<\/strong><\/p>\n\n\n\n After the onset of insolvency, no further payments may be made that would reduce the insolvency estate. Exceptions are payments that are strictly necessary for the continued operation of the business.<\/p>\n\n\n\n Risk:<\/strong><\/p>\n\n\n\n Solution:<\/strong><\/p>\n\n\n\n Certain acts during a corporate crisis are considered bankruptcy offenses or criminal insolvency acts, for example:<\/p>\n\n\n\n Risk:<\/strong><\/p>\n\n\n\n Solution:<\/strong><\/p>\n\n\n\n During the crisis, the managing director will also be held personally liable for unpaid taxes and social security contributions. This applies in particular to:<\/p>\n\n\n\n Risk:<\/strong><\/p>\n\n\n\n Solution:<\/strong><\/p>\n\n\n\n In addition to civil liability risks, managing directors face significant criminal consequences in a crisis. Particularly critical are:<\/p>\n\n\n\n Negligence or ignorance does not protect against punishment. It is therefore crucial to be fully aware of your own duties as managing director and to seek support in good time.<\/p>\n\n\n\n Delayed filing for insolvency occurs if the insolvency petition is not filed within three weeks after the onset of insolvency.<\/p>\n<\/div><\/div>\n\n\n\n Only payments that are essential for the continued operation of the business, such as salaries or operating costs.<\/p>\n<\/div><\/div>\n\n\n\n Regular liquidity checks, timely insolvency filings, and compliance with legal requirements minimize personal liability risks.<\/p>\n<\/div><\/div>\n\n\n\n Bankruptcy offenses are punishable acts such as concealing assets, destroying accounting records or favoring certain creditors.<\/p>\n<\/div><\/div>\n\n\n\n The Managing Director is personally liable for payroll taxes and social security contributions that were not paid in a timely manner.<\/p>\n<\/div><\/div>\n\n\n\n\n\n As managing director, you are under particular scrutiny in a crisis. But instead of letting worries and fears paralyze you, you can take action: secure the support you need to minimize risks and regain control. A crisis is never easy \u2013 but with the right knowledge and clear measures, you can emerge from it stronger.<\/p>\n\n\n\n Contact us now for a non-binding initial consultation. Together, we will protect your interests and open up prospects for a successful future.<\/strong><\/p>\n\n\n\n\n
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2. Prohibited payments after the onset of insolvency<\/h3>\n\n\n\n
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3. Bankruptcy offenses and insolvency crimes<\/h3>\n\n\n\n
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4. Liability for taxes and social contributions<\/h3>\n\n\n\n
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Criminal consequences \u2013 when caution becomes a duty<\/h2>\n\n\n\n
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How to protect yourself from liability pitfalls<\/h2>\n\n\n\n
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Use key figures such as liquidity planning to identify impending illiquidity at an early stage.<\/li>\n\n\n
Complete documentation protects you from the accusation of having made unlawful decisions.<\/li>\n\n\n
Experts can ensure that all measures are legally sound and minimize personal risks.<\/li>\n\n\n
If insolvency is inevitable, act immediately. This is the only way to avoid personal consequences.<\/li>\n<\/ol>\n\n\n\nFAQ<\/h2>\n\n\n\n
When does delayed filing for insolvency occur?<\/h3>
Which payments are permitted after the onset of insolvency?<\/h3>
How can I protect myself from personal liability?<\/h3>
What are bankruptcy offenses?<\/h3>
Who is liable for unpaid taxes and social security contributions?<\/h3>
Conclusion: Take responsibility and act<\/h2>\n\n\n\n