Insolvency Administration is the focus of our work. Our Partners are regularly appointed by 17 insolvency courts in Lower Saxony, Hamburg, Schleswig-Holstein and Mecklenburg-West Pomerania. Our office is organised in such a way that we are always in a position to take on insolvency proceedings of ongoing businesses irrespective of their size.
Protective shield proceedings (Schutzschirmverfahren)
With the German Act on the Further Facilitation of Corporate Restructuring (ESUG – Gesetz zur weiteren Erleichterung zur Sanierung von Unternehmen), the German legislator has introduced so-called “protective shield proceedings”. Distressed companies can choose to implement their restructuring concept under creditor protection outside of insolvency proceedings. In proceedings of this kind, we act in the capacity of trustee for the company concerned as well as providing consultancy services.
Self-administration has become more important as a result of the ESUG. In the case of self-administration, management remains able to act and can implement restructuring measures. We provide consultancy services for managing directors and management boards or accompany the proceedings as judicially appointed trustee.
Insolvency plan proceedings
We have many years of experience in compiling and implementing insolvency plans. Our partner Dr Tjark Thies has made a significant contribution to the further development of this restructuring Instrument with his expert comments in the Hamburg Commentary on Insolvency Law (Hamburger Kommentar zum Insolvenzrecht).
Insolvency plan proceedings facilitate a swift conclusion to insolvency proceedings by restructuring the business through a settlement with the creditors.
We offer a broad range of consulting services. They comprise comprehensive support for the company in crisis, to representing managing directors in cases of personal liability and representing creditors in enforcing their rights in insolvency cases:
- Reorganisation, restructuring, insolvency plans
- Support in protective shield proceedings pursuant to ESUG (trusteeship)
- Out-of-court liquidation / debt clearance
- Avoidance of liability for company organs and shareholders
- Initiation and preparation of insolvency proceedings
- Corporate acquisitions from insolvency proceedings, drafting contracts
- Business relationship with insolvent companies
- Defence against appeal claims