InsolvenzplanverfahrenInsolvency plansThe FirmActivitiesThe teamInformationContactImprint
Activities
Insolvency administrationInsolvency plansReorganization conceptsCreditor support

Insolvency plans

The firm is extensively involved in the preparation and implementation of insolvency plans pursuant to ยงยง 217 ff. of the German Insolvency Code [InsO].

The insolvency plan as conceived under German insolvency law offers various opportunities, with the approval of the creditors concerned, to restructure a business undertaking without resorting to regular insolvency proceedings. For large undertakings in particular, this can provide a meaningful alternative to standard bankruptcy proceedings. Implementing an insolvency plan requires a professional team to be appointed at an early stage. On request the firm can assemble and lead such a team, if appropriate in association with external third parties.

Attorney and insolvency law specialist Dr. Frank Kebekus presented one of the first such insolvency plans for a quoted stock corporation listed on the Neuer Markt in Frankfurt as long ago as the year 2000 shortly after the Insolvency Code took effect. These early proceedings were a source of extensive experience which has proved invaluable in the interplay between insolvency law, capital market and stock corporation law. Particularly in cases of cross-border group insolvencies, where for example European insolvency law may apply, insolvency plans can be used as an instrument of rehabilitation. This can be of particular significance for foreign creditors.