Insolvency and Reorganization
The aim of our work is to prevent insolvency cases from arising.
There are usually early signs of a crisis brewing within a company. The sooner an entrepreneur responds to them, the more room for manoeuvre he has. Or conversely: the longer an economic crisis lasts, the smaller the window to correct the situation.
Therefore, seize the crisis as an opportunity to solve existing problems. We will happily assist you in that:
- through economic analyses
- by preparing reorganization concepts
- through negotiations with creditors.
The prerequisite for reorganization is that the company still enjoys internal confidence (of the employees) and external confidence (of the creditors). Otherwise there is no willingness to pursue a common goal with your negotiating partners. Therefore, transparency is one of the basic requirements for reorganization which must be satisfied; and hence it is the guiding principle in our operations.
If insolvency is unavoidable, the amendment to the insolvency law (in the form of the “ESUG”- German law to facilitate the reorganization of companies) which was made in March 2012 offers a few advantages for the company to be reorganized, such as:
- easier access to the possibility of self-administration
- as well as expansion and streamlining of insolvency plan proceedings
Additionally, we will gladly advise you in the course of your insolvency application to ensure that the advantages of the statutory changes will benefit you as well.
If you, as a creditor, are faced with the insolvency of your contracting partner, we will happily assist you in safeguarding and enforcing your rights. To give such advice with the aim of enforcing your rights, it is useful to know the situation of the opposing party to decide which instrument is the best to use.
In view of the fact that in our firm we also work alongside insolvency administrators, we are familiar with the scope of action on the end of the insolvency debtor and the insolvency administrator. Relying on this knowledge, we will happily advise you on how to effectively assert your claims and security interests.