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WACKER Expects Sales Growth and Substantially Higher Earnings in 2021
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Wacker Chemie AG (via Public) / WACKER Expects Sales Growth and Substantially Higher Earnings in 2021
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Germany s New Financial Market Integrity Strengthening Act | Morgan Lewis
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DGAP-News: DFV Deutsche Familienversicherung AG / Key word(s): Miscellaneous
DFV Deutsche Familienversicherung AG: Release according to § 109 Paragraph 2 Sentence 1 WpHG
01.02.2021 / 18:10
DFV Deutsche Familienversicherung AG
Release according to § 109 Paragraph 2 Sentence 1 WpHG
The German Financial Reporting Enforcement Panel (FREP) has determined that the consolidated financial statements of Deutsche Familienversicherung AG, Frankfurt am Main, as at 31 December 2018 and the group management report for the 2018 financial year are incorrect:
I. Costs of the IPO
In the consolidated income statement for the 2018 financial year, the consolidated income before tax is overstated, as costs in connection with the IPO in December 2018 were not deducted as expenses, but directly deducted from equity as transaction costs (IAS 39.9 - transaction costs). Approximately EUR 0.8 million of these costs were costs that did not meet the requirements of IAS 32.35 and IAS 32.37 for recogniti
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A comprehensive change to German insolvency and restructuring law has become effective starting 1 January 2021. The change allows that a company s reorganization is possible without insolvency and includes the majority decision of its creditors.
In its final session in 2020, the German Bundestag passed the so-called Act on the Further Development of Restructuring and Insolvency Law (SanInsFoG), which will be applicable starting 1 January 2021. The law is based, among other things, on an EU directive that requires all member states to allow non-insolvency restructuring. The expected economic dislocations, as a result of the Covid-19 pandemic, have prompted German lawmakers to bring forward this legislative project and also create additional extensive mitigations for the economic consequences of the lockdown for companies.