The European Private Company (SPE, “European-GmbH”) is coming. Will this make obsolete the German Limited Liability Companies Reform Act (MoMiG: The Act to Modernize the Law Governing German Limited Liability Companies and to Combat Misuse)? Overshadowed by the attention paid to the MoMiG in 2008, the proposal by the Commission of the European Community on 25 June 2008 for a Council Regulation on the Statute for a European Private Company initially received little notice. However, the SPE could develop into serious competition for the German GmbH as the directly enforceable law in EU Member States.