Insolvency Law

Despite of declining number of insolvency cases of enterprises in the last ten years,  there is still furthermore significant risk of bankruptcy for many businesses. Many firms are not sufficient financed, they pay their debts with delay or they have a low or negative equity capital. The development of interest could also be decisive for their financial situations. In the event of further increase of interest not being actually expected, raise in  interest rate may constitute a fear that enterprises will no longer be able to cover the increased financial burden and an enhanced risk of bankruptcy may arise as a result of this burden.

Insolvency, Application for Opening of  Insolvency and Insolvency Proceedings – What should be considered?

There are many questions which may be raised beforehand the filing the application for opening of insolvency as well as during the insolvency proceedings. Our experience resulting from handling of hundreds of insolvency proceedings can also be of value and useable outside such proceedings.

An enterprise which is on the bring of becoming insolvent, needs in general external assistance through out of court reorganisation proceedings or reorganisation within insolvency proceedings (protection insolvency, self-administered insolvency).

Minimization of risks for directors and management board

Issues regarding minimization of risks of personal liability for governing bodies of a company (directors, management board) arise often in connection with insolvency from civil and criminal law perspective (delay in filling for insolvency).

Complex issues regarding forthcoming insolvency proceedings arise for creditors of their business partner becoming bankrupt. These issues reach from the participation of creditors in proceedings (board of creditors), through the existence and the enforcement of their secured rights (supplier pool, reservation of title rights) until the registration of claims or defense against challenges against insolvency initiated by insolvency administrators. Within these complex areas, Derra, Meyer & Partners advise not only debtors but also banks, creditors and suppliers.

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