Insolvency Law & Restructuring

Companies can find themselves in difficulties for various reasons: a slump in sales, excessively high debt, liquidity problems, the loss of customers, or refinancing risks. Restructuring must address these issues to achieve long-term stability. Early action and thorough scrutiny will help get a company back on track. We support you throughout every phase of restructuring, so you can concentrate on your company’s success. 

At a glance: 

AVOIDANCE OF RISKS:

• Advising directors and management boards on escaping liability
• Advising directors, management and supervisory boards on avoiding recourse from insolvency administrators for breaches of duties prior to insolvency or due to the (ostensibly late) application for insolvency
• Assessing grounds for insolvency (inability to pay, overindebtedness) from economic and legal perspectives 

REDUCTION OF COSTS:

• Measures to secure liquidity (e.g., sale of capital assets, business units, sale & leaseback)
• Redundancies, including negotiating the reconciliation of interests and social plans

CONTINUATION OF THE COMPANY:

• Debt and loan restructuring
• Preparing and assessing restructuring concepts (e.g., under the Guidance on Requirements of Restructuring Concepts of the Institute of Public Auditors in Germany, IDW S 6)
• Advising on restructuring out of insolvency (including under the Act on the Stabilisation and Restructuring Framework for Companies, StaRUG)
• Advising on insolvency, debtor in possession, and protective shield proceedings
• Drafting and developing insolvency plans to rescue the company
• Developing financing concepts

As an insolvency administrator and trustee, you skilfully restructure insolvent companies with the aim of satisfying creditors as much as possible. We support you – happily as your legal department – during provisional proceedings and after the opening of insolvency proceedings so that you can optimally oversee procedures both economically and legally. 

OUR FOCUS: 

• Distressed M&A 
• Developing and analysing insolvency plans
• Providing organisation and support for continuing operations during insolvency
• Determining and enforcing liability claims and rights of appeal
• Insolvency tax law
• Insolvency labour law (including insolvency plans, mass redundancies, and transfer companies)
• Developing and negotiating convenience and extended DIP financing
• Structuring fiduciary arrangements
• Insolvency administrator liability / professional liability insurance

As a creditor, you are faced with how to avoid a loss from bad debts and how best to enforce your claims, especially when a contractual partner is insolvent. We provide you with comprehensive advice on the alternatives to ensure the insolvency of a business partner does not result in a crisis for your company. 

ASSERTING CLAIMS:

• Reviewing and enforcing security interests
• Providing representation in creditor committees and supplier pools
• Lodging claims

LOSS PREVENTION:

• Negotiating continuation agreements
• Collateral security for supply chains
• Defending you against legal challenges
• Drafting contracts optimised for insolvency