As a legal advisor in a crisis, we do not only support you in the initiation and handling of insolvency proceedings, but can also help you to maintain your company, which has often been built up over years, and to continue it despite insolvency proceedings. Insolvency proceedings do not automatically mean the end of your existence as an entrepreneur. There is often the possibility – especially with a little preparation and legal support and advice – to continue your business activities.
As lawyers specialised in insolvency law, we can support you in maintaining the entrepreneurial values you have created. This objective can be achieved in various scenarios.
If, during the initial consultation, there are still opportunities for restructuring your business operations, we will support you in avoiding insolvency proceedings and in restructuring your company step by step.
But even in the event that you or your company cannot avoid insolvency proceedings but must file for bankruptcy, there are some options.
On the one hand, there is the possibility of continuing operations and restructuring through an insolvency plan, on the other hand we can also support you in freeing your company from the insolvent owner and putting it on a new footing by means of a transferred restructuring (übertragende Sanierung). In such a case, the liabilities remain in the insolvent company and the new company starts free of debt.
In such an approach it is worthwhile to invest in legal advice in order to take advantage of all possible possibilities in pricing and in optimising the legal framework of the company and to eliminate most of the legal risks such as the transfer of the business or liability for debts of the old company from the outset.
Another conceivable scenario is the release of the business operation by the insolvency administrator, replacing the grown corporate structure. Here, too, legal advice helps to avoid costly errors in negotiations with the insolvency administrator and to put the business on a sound footing from the outset.
A continuation of the business within the scope of the protective shield proceedings or self-administered insolvency is also possible.
With our specialist legal expertise, we can help you to continue your business and make it fit for the future. The earlier you seek advice, the greater the scope of possible actions for your business. Please feel free to call us without obligation.