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Part 1 · General provisions › Section 205

Obligation to provide compensation for damages of the administrative bodies of the legal entity changing its legal form

(1) The members of the representative body and, where a supervisory body exists, the members of such supervisory body of the legal entity changing its legal form, are under obligation, as joint and several debtors, to provide compensation for those damages suffered by this legal entity, by the owners of its shares, or by its creditors as a result of the legal form having been changed. Section 25 (1) sentence 2 is to be applied accordingly.

(2) The claims set out in subsection (1) will become statute-barred five years following the day on which notice of the entry to be applied for with the register of the new legal form, or of the legal entity in its new legal form, has been given by publication.

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