In self-administered insolvency, you can still essentially determine the course of your company yourself.
As lawyers specialised in insolvency law, I will accompany you in the planning and implementation of a self-administered insolvency procedure. The application for self-administered procedure requires that its order will not lead to disadvantages for the creditors. As a rule, the insolvency courts examine this question very carefully, which is why the assistance of an experienced legal advisor is indispensable.
For successful self-administered procedure, various restructuring specialists are needed to overcome individual hurdles within the procedure. These include experienced tax and management consultants with expertise in restructuring. With over 10 years of experience in the industry, you and your restructuring project will benefit from our network. This also includes the selection of a suitable trustee.
Our consulting instruments also include the protective shielding proceedings. This procedure is a restructuring procedure designed around an insolvency plan. It is intended to give an entrepreneur the time to draw up an insolvency or reorganisation plan. A prerequisite for the protective shielding proceedings is an insolvency application in case of imminent insolvency (drohende Zahlungsunfähigkeit) or overindebtedness. If insolvency has already occurred, it is not possible to enter the protective shield proceedings anymore. In addition, self-administered procedure must be applied for. Throughout the entire application process, it is urgently recommended to consult a lawyer to avoid wrong strategic decisions.
This is already the case because a certificate from a lawyer, tax advisor or auditor experienced in insolvency matters must be submitted, from which it becomes clear that there is an imminent insolvency or over-indebtedness, but no insolvency, and that the intended restructuring is not obviously pointless. Our specialist lawyerwill issue such a certificate for you.
In case you are looking for self-administered insolvency and/or protective shielding proceedings, you are in good hands with us. Please contact us without obligation.