Even reorganisation involving court proceedings also offer a good chance of success.
Although out-of-court reorganisation is generally a very commendable approach to take, there are some situations where this is not possible. Examples include cases where the shareholders cannot reach an agreement, material contractual arrangements inhibit reorganisation or an uncompromising creditor delays or blocks the reorganisation. In such instances, well-prepared, orderly insolvency proceedings can also result in companies being able to continue as a going concern. As in all cases of insolvency, the quicker the correct course of action is taken, the better the outlook.
Wherever possible, we focus on preserving the company’s value and on increasing its assets. During this difficult time, it is especially important that companies do not view us as an administrator in the technical sense of the word.
Instead, our role is to find solutions. With our specialist expertise, pragmatic approach and dedication to our work, we identify the right approach for every company and provide advice every step of the way.
What you need to know about standard insolvency administration
- The court-appointed insolvency practitioner assumes responsibility for the company
- A knowledgeable and experienced insolvency administration team has a decisive influence on the future prospects of the insolvent company and its employees on the one hand, and the ability to reconcile this outlook with the creditors’ interests on the other
- It is easier to terminate commercially disadvantageous contracts, for example by exercising special rights of termination for long-term contracts (e.g. rental or lease agreements) or by setting lower volumes for social plans