Insolvency does not necessarily mean the end of a company. Handled correctly, it can be the starting point for a successful fresh start. The key is to understand the process and take the right measures in good time. In this article, you will learn what insolvency means, how the proceedings work and what options are available to you as an entrepreneur to protect your interests.<\/p>\n\n\n\n
Insolvency describes the financial situation of a company when it is no longer able to meet its payment obligations. The reasons for this are usually:<\/p>\n\n\n\n
The aim of insolvency proceedings is twofold: on the one hand, the creditors are to be satisfied equally; on the other, the proceedings give the entrepreneur the opportunity to restructure or wind down the business in an orderly manner.<\/p>\n\n\n\n
Insolvency proceedings consist of several clearly defined steps:<\/p>\n\n\n\n
1. Filing the petition<\/strong><\/p>\n\n\n\n 2. Review of the petition<\/strong><\/p>\n\n\n\n 3. Opening of the insolvency proceedings<\/strong><\/p>\n\n\n\n 4. Restructuring or liquidation<\/strong><\/p>\n\n\n\n 5. Termination of the proceedings<\/strong><\/p>\n\n\n\n Companies capable of restructuring can remain operational under the supervision of a custodian and actively participate in the restructuring.<\/p>\n\n\n\n With good preparation, entrepreneurs retain control over their company and can act independently.<\/p>\n\n\n\n Insolvency occurs when a company is illiquid or over-indebted. Insolvency proceedings serve to satisfy creditors and can enable a restructuring.<\/p>\n<\/div><\/div>\n\n\n\n They begin with the filing of the petition, followed by the examination by the court and the opening of the proceedings, and end with restructuring or liquidation.<\/p>\n<\/div><\/div>\n\n\n\n Managing directors must file for insolvency within three weeks in the event of illiquidity or over-indebtedness in order to avoid criminal consequences.<\/p>\n<\/div><\/div>\n\n\n\n Options include an insolvency plan or protective shield proceedings, in which the company remains operational under supervision.<\/p>\n<\/div><\/div>\n\n\n\n An insolvency law attorney assists with the filing of the petition, negotiations with creditors, and the development of a restructuring plan.<\/p>\n<\/div><\/div>\n\n\n\n\n\n Insolvency proceedings are undoubtedly a challenge, but they can also be a turning point. With the right knowledge, clear processes and professional support, entrepreneurs can overcome this crisis, realign the company and create a solid foundation for the future.<\/p>\n\n\n\n Act now!<\/strong> Contact us to discuss your options in insolvency proceedings. Together we will find a solution that strengthens you and your company.<\/p>\n\n\n\n\n
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Legal aspects for entrepreneurs<\/h2>\n\n\n\n
Duties of the Managing Director<\/h3>\n\n\n\n
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Protective shield proceedings<\/h3>\n\n\n\n
Debtor-in-possession proceedings (self-administration)<\/h3>\n\n\n\n
Rights of the creditors<\/h3>\n\n\n\n
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Practical tips for dealing with insolvency<\/h2>\n\n\n\n
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FAQ<\/h2>\n\n\n\n
What is insolvency?<\/h3>
How do insolvency proceedings work?<\/h3>
What duties do managing directors have in the event of insolvency?<\/h3>
What options are there for corporate restructuring?<\/h3>
How can an attorney help?<\/h3>
Conclusion: Insolvency as a new beginning<\/h2>\n\n\n\n