Insol­ven­cy law

Reor­ga­ni­sa­ti­on / Res­truc­tu­ring / Own management

The cri­sis threa­tens. Valuable time is passing.

Take the reins of action again — and deter­mi­ne your own desti­ny and the suc­cess of your restructuring.

Stay inde­pen­dent with our lawy­ers for insol­ven­cy law at your side: As a mat­ter of prin­ci­ple, the Insol­ven­cy Act pro­vi­des for the appoint­ment of an insol­ven­cy admi­nis­tra­tor in the event of cor­po­ra­te insol­ven­cy. In this case, the con­trol and decis­i­ons of dai­ly busi­ness ope­ra­ti­ons are trans­fer­red to the insol­ven­cy admi­nis­tra­tor. The pre­vious manage­ment is de fac­to dis­em­powered. Self-admi­nis­tra­ti­on, on the other hand, offers com­pa­nies the oppor­tu­ni­ty to car­ry out reor­ga­ni­sa­ti­on pro­cee­dings on their own respon­si­bi­li­ty during insol­ven­cy. In self-admi­nis­tra­ti­on, the manage­ment remains ful­ly entit­led to dis­po­se of the com­pa­ny and con­ti­nues busi­ness ope­ra­ti­ons its­elf. It is mere­ly assis­ted by a so-cal­led trus­tee in order to pro­tect the inte­rests of cre­di­tors and to check the eco­no­mic situa­ti­on of the company.

The BSKP lawy­ers for insol­ven­cy law pro­vi­de cli­ents with com­pre­hen­si­ve sup­port in pre­pa­ring and imple­men­ting all neces­sa­ry mea­su­res. Par­ti­cu­lar­ly during self-admi­nis­tra­ti­on pro­cee­dings, we take on the advi­so­ry posi­ti­on of self-admi­nis­tra­ti­on as res­truc­tu­ring experts in order to make the best pos­si­ble use of the instru­ments of insol­ven­cy law for the res­truc­tu­ring of your com­pa­ny. Tog­e­ther with the manage­ment, a suc­cessful reor­ga­ni­sa­ti­on of the com­pa­ny is thus work­ed out in a team.

Advan­ta­ges of self-admi­nis­tra­ti­on (with or wit­hout a pro­tec­ti­ve shield):

• Manage­ment remains in con­trol and capa­ble of acting (in con­trast to the stan­dard procedure)
• offers an incen­ti­ve to file for insol­ven­cy as ear­ly as pos­si­ble (as no loss of con­trol is to be feared)
• Trus­tee crea­tes trust, pro­tects the inte­rests of cre­di­tors and exami­nes the eco­no­mic situation
• usual­ly sim­pli­fies and shor­tens the reha­bi­li­ta­ti­on phase

Our ser­vices for you in this pha­se include in particular

• Pre­pa­ra­ti­on and sup­port of self-admi­nis­tra­ti­on pro­cee­dings, § 270 a InsO
• Pre­pa­ra­ti­on of the cer­ti­fi­ca­te accor­ding to § 270 b InsO for pro­tec­ti­ve shiel­ding procedures
• Pre­pa­ra­ti­on and fil­ing of insol­ven­cy applications
• Con­cep­ti­on and pre­pa­ra­ti­on of insol­ven­cy plans with the neces­sa­ry plan cal­cu­la­ti­ons and annexes
• Sup­port of the manage­ment and assump­ti­on of the organ func­tion as CRO (Chief Res­truc­tu­ring Offi­cer), gene­ral agent or sup­port as (pro­vi­sio­nal) admi­nis­tra­tor until the suc­cessful com­ple­ti­on of the res­truc­tu­ring and the ter­mi­na­ti­on of the insol­ven­cy proceedings

Fur­ther ser­vices in this area:

• Sup­port and advice to pro­s­pec­ti­ve buy­ers in the acqui­si­ti­on of busi­ness ope­ra­ti­ons or indi­vi­du­al assets from ongo­ing insol­ven­cy pro­cee­dings / insol­ven­cy assets (distres­sed M&A, incl. finan­cial and legal due diligence)
• Crea­ti­on of inte­gra­ted cor­po­ra­te planning
• Crea­ti­on of reme­dia­ti­on con­cepts accor­ding to IDW S6
• Imple­men­ta­ti­on of com­pli­ance audits and foren­sic accounting
• Pre­pa­ra­ti­on and assess­ment of sur­vi­val fore­casts and exami­na­ti­on of reasons for insol­ven­cy (exami­na­ti­on of insol­ven­cy, exami­na­ti­on of over-indebtedness)
• Advice on labour law opti­ons for the res­truc­tu­ring of companies
• Repre­sen­ta­ti­on in direc­tors’ and offi­cers’ lia­bi­li­ty suits and in insol­ven­cy appeals

We have a long-stan­ding track record in the suc­cessful sup­port and imple­men­ta­ti­on of res­truc­tu­rings within insol­ven­cy pro­cee­dings under our own management.