The Federal Ministry of Justice and Consumer Protection (BMJV) has commissioned a consortium led by the German Travel Association (DRV) to organize the new insolvency insurance for package tours. To this end, the consortium founded Deutsche Reisesicherungsfonds GmbH (DRSF) in May 2021, which submitted a corresponding application on the basis of the law passed in the summer on insolvency protection through travel protection funds and amending travel law regulations. The travel protection fund is due to start operating on November 1. By October 2027, the Travel Guarantee Fund – financed by the tour operators – is to build up a target capital of EUR 750 million. In the initial phase, the federal government will provide cover. The supervisory authority is the BMJV. <\/p>\n\n
Renzenbrink & Partner advised the DRV in the early stages and during the legislative process on the corporate and tax structuring of a travel security fund and later advised the DRSF on the preparation of the corporate documentation.<\/p>\n\n
The Renzenbrink & Partner team consisted of partners Dr. Ulf Renzenbrink<\/a> and Dr. Andreas Stoll<\/a> as well as counsel Christopher Blumenthal<\/a> (all Corporate\/M&A).<\/p>\n","protected":false},"featured_media":900,"template":"","class_list":["post-901","deals","type-deals","status-publish","has-post-thumbnail","hentry"],"acf":[],"yoast_head":"\n