Insolvency proceedings in self-administration offer the debtor the opportunity to manage and dispose of the insolvency estate himself under the supervision of a trustee. The aim of self-administration is to restructure the debtor's business, primarily within the framework of an insolvency plan; however, restructuring by selling the business to an investor or to a rescue company (restructuring transfer) is also possible here. Protective shield proceedings are a special form of self-administration and can only be applied for if insolvency has not yet occurred; an insolvency plan must usually be submitted within three months of the application. In insolvency proceedings, self-administration is also possible; then the insolvency court appoints a temporary administrator to supervise the debtor. If a creditors' committee has been appointed, the self-administration measures must be coordinated with it. Fundamental decisions in the proceedings are made by the creditors' meeting. The (provisional) administrator is supervised by the insolvency court.
Our insolvency administrators have successfully acted as administrators and provisional administrators in a large number of insolvency proceedings for many years.