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German is an outlier in anything. What the poster has yet to mention is the horrific state of things when actually running a company. Insolvency in Germany is easy to achieve, either from illiquidity or over-indebtedness. All responsibility is on the company's director to oversee possible insolvency tests, of which there are many. If you cannot pay at least 90% of due liabilities within 3 weeks (illiquidity), you're expected to run out of cash within the forecast horizon(imminent illiquidity), or have liabilities exceeding assets unless a 12-month going-concern forecast is positive (over-indebtedness), you will need to declare insolvency.

Filing insolvency must be done without undue delay (a special legal term) and no longer than 3 weeks after you have realized that you might be in insolvency. If you fail, you will be personally liable in full (though there is a honor codex amongst insolvency lawyers to not go after the family home) and you might face jail time. These rules and personal liability have actually been made much stricter in recent years as well.