Higher Regional Court of Schleswig (order of 28 November 2025): The register court is merely the custodian of the shareholder list; responsibility for its substantive accuracy lies with those who file it.

Managing directors and board members are not liable for justifiable decisions taken on an adequate information basis – what matters is the documentation of the decision-making basis.

Breaches of duties of care – for instance in a crisis or in the event of compliance violations – trigger personal liability risks. Documentation and early advice provide protection.