With the StaRUG, the legislator has introduced a new restructuring instrument as of 01.01.2021, which enables companies to be restructured even outside of insolvency proceedings.

Regular insolvency proceedings are the "classic form" of insolvency administration.
We are active in many such proceedings as insolvency administrators and preliminary insolvency administrators for now 13 courts in four federal states in both corporate insolvencies and consumer proceedings. Our insolvency administrators can draw on experience from over 2,000 cases.

In self-administration proceedings and protective shield proceedings, the debtor may administer and dispose of the insolvency estate himself. In these proceedings, the insolvency court does not appoint an insolvency administrator, but an administrator whose task is to supervise and accompany the debtor. In insolvency proceedings, the court appoints a provisional administrator in the case of self-administration and in provisional protective shield proceedings.
Our insolvency administrators have also successfully acted as administrators and provisional administrators in a large number of insolvency proceedings for many years.

Reorganising transfer (also "transferring reorganisation") refers to the sale of the assets of an insolvent company to another legal entity (Auffanggesellschaft) or natural person in the context of an "asset deal". We advise and represent buyers and other parties involved in such transactions.

In regular insolvency proceedings, the insolvency administrator acquires the power to dispose of all the debtor's assets subject to insolvency proceedings. In corporate insolvencies, the insolvency administrator thus determines the continuation of the debtor's business operations, possibly together with the creditors' committee. Fundamental decisions in the proceedings are made by the creditors' meeting. The (preliminary) insolvency administrator is supervised by the insolvency court. In the insolvency opening proceedings, i.e. after the filing of the insolvency petition but before the opening of the actual insolvency proceedings, the insolvency court may appoint a preliminary insolvency administrator. As a rule, the debtor may only dispose of his assets in this phase with the administrator's consent (keyword "weak administrator"); in special cases, however, the court also orders the provisional administrator's authority to dispose of the debtor's assets ("strong administrator").
We are active in a large number of such proceedings as (provisional) insolvency administrators for now 13 courts in four federal states, both in corporate insolvencies and in consumer proceedings. However, we also advise and represent insolvency debtors (vis-à-vis the insolvency court and vis-à-vis the insolvency administrator) and creditors (in the filing of claims, in the creditors' meeting and in the creditors' committee) in such proceedings in which we are not appointed as insolvency administrator.

The creditors' assembly is the supreme self-governing and decision-making body of the creditors in regular insolvency proceedings and in self-administration. The creditors' assembly can, for example, elect a new insolvency administrator or a creditors' committee, decide on the continuation of business operations and grant the insolvency administrator the authority to take significant procedural actions. We advise and represent insolvency debtors and creditors in this body.

Areas of law Insolvency law Reorganisation law Commercial law Corporate law Tax law Civil law Civil procedure law Contract law
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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.

We advise and represent insolvency debtors in the run-up to regular insolvency proceedings and self-administration proceedings, when filing the insolvency petition and during the ongoing proceedings until their termination. In self-administration, we are available to our clients as reorganisation managing directors or general representatives. We also draw up insolvency plans and enforce them in court.

We advise and represent creditors and other affected parties in the run-up to regular insolvency proceedings and self-administration proceedings and in the opened proceedings until their termination. In particular, we represent creditors in creditors' committees and creditors' meetings and in the coordination of insolvency plans. We are also available to our clients in the investigation and enforcement of claims against parties to the proceedings, such as managing directors of the insolvency debtor. We advise and represent investors / purchasers of companies or individual assets from insolvency.