As part of our counselling services, we always check for you or your company the existence of insolvency grounds. These can be: imminent insolvency, inability to pay, or over-indebtedness. This question is particularly relevant for managing directors of GmbHs or other corporations, as the existence of such reasons for insolvency and a failure to file for insolvency without undue delay can lead to personal liability.
Upon request, we can also formally assess the existence of insolvency grounds. Such a status report according to IDW S 11 standard is the best possible protection for you as a managing director in a crisis. The formal appraisal by a specialist lawyer for insolvency law is a good basis for argumentation in the event of liability allegations.
Advice on the existence of grounds for insolvency can be the starting point for many scenarios:
Many managing directors only want to develop a feeling for the crisis situation. If there are no reasons for insolvency, this is often very reassuring for many clients. Not every crisis leads to an obligation to file for insolvency. A counselling interview helps to put this into perspective.
If there is an obligation to file for insolvency and the reasons for insolvency can no longer be eliminated, an insolvency application is essential to minimise your liability. Here it is then important to coordinate the right steps and measures. With us as consultants at your side you can avoid or at least reduce the numerous liability traps.
With good strategic preparation, however, an insolvency application can also be the start of a restructuring process in which your company is taken over and continued by a new owner. It is also conceivable, however, to prepare the continuation of operations in insolvency proceedings or an insolvency plan procedure.
Alternatively, we can support you in the course of the insolvency proceedings and help you to avoid errors with liability.
If there is a possibility to eliminate the reasons for insolvency, our advice can be the starting point for a reorganisation at the end of which your company will emerge from the crisis strengthened. With our expertise, we can advise you and your company in a turn-around process and represent you in negotiations with your most difficult creditors. Subsequently, we can – if necessary in cooperation with your tax advisor – develop a restructuring concept for you and thus create the conditions for restructuring loans or successful negotiations with suppliers, your house bank or the tax authorities.
We can offer you our competent support for every conceivable scenario in the area of insolvency law. Please do not hesitate to contact us.