SELF ADMINISTRATION §§ 270 ff

Insolvency administrator on his own behalf

 

Once the decision to file for insolvency has been made, it must be clarified which procedure is appropriate for your company.

In order to be able to carry out an independent company restructuring, you can opt for self-administration in accordance with § 270a InsO. The aim is to maintain the knowledge of the management as well as the contacts to suppliers and customers and to ensure a long-term positive continuation of the company. In the course of this, you will be assigned a (temporary) trustee who will take over the supervision of the reorganisation.

The basic prerequisite for applying for a protective shield procedure is that there is only the threat of insolvency according to § 18 InsO. In this procedure, too, the business is continued and reorganized independently. An insolvency plan must be drawn up with the aim of preserving the legal entity and opening up the possibility of operational and financial restructuring.

starkpartners will support you in handling the numerous tasks involved in both proceedings. We help you to understand the complex basic framework of insolvency law and accompany you through the entire process. We will be happy to assist you as your advisor at any time.

Thorsten Stark
Senior Partner

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Frank Jäger
Partner

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