Potential liability of chartered accountants for delaying insolvency proceedings

Insolvency & Restructuring

Dr. Alexander Isola, ILO-Newsletter vom 12. August 2016

Chartered accountants entrusted with drawing up financial statements must also examine the company´s status of overindebtedness in terms of insolvency law if the company´s accounts show that it is overloaded with debt. However, in practice, this task is often neglected, as the fact that chartered accountants run the risk of being held liable for damage incurred due to delaying insolvency proceedings is often ignored.


Dr. Alexander Isola

M.C.J. (NYU) Partner