German insolvency law offers companies the option of restructuring in insolvency procedures under their own management.. This is so-called self-administration in accordance with Article270 ff. of the German Insolvency Code(InsO).
Restructuring within the framework of so-called insolvency protection proceedings pursuant to Article 270b InsO is only possible if the company is (still) insolvent and restructuring worthy. Proof that these preconditions have been fulfilled is to be provided as part of a restructuring expert report. In the case of self-administration, the executive management is under the supervision of a liquidator appointed by the insolvency court. Usually, the executive management of the company is supported for the duration of the proceedings by an external restructuring consultant. In the case of "insolvency protection proceedings”, an insolvency plan is drawn up for the restructuring of the company within a maximum period of three months from the time of the insolvency application. The preparation and performance of the insolvency proceedings in the form of self-administration places special requirements on the quality of the financial accounting.
Take advantage of the support provided by our experienced restructuring experts. They will support you with the optimization of the existing financial accounting, prepare liquidity plans based on insolvency law assumptions, draw up the insolvency application and compile a restructuring expert report in accordance with Article 270b para. 1 sentence 3 InsO.
Upon request, our experts will support the executive management for the entire duration of the insolvency proceedings. This results not least in liability minimization on the part of the executive management.