Insolvenzverschleppung

delayed filing for insolvency; wrongful trading

noun in-zol-VENTS-fer-shle-poong Rare

Usage Note

Insolvenzverschleppung (§15a InsO) is the criminal and civil offence committed when a company director delays filing for insolvency beyond the three-week deadline once the company is over-indebted or unable to pay.

Examples

"Der Geschäftsführer wurde wegen Insolvenzverschleppung strafrechtlich verfolgt."

Natural Translation

The managing director was prosecuted for delayed filing for insolvency.

Literal Translation

The managing-director was because-of insolvency-delay criminally pursued.

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