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.
We advise you personally.
To avoid waiting times for you, please make an appointment. Call us or send us an appointment request via the contact form.