Even in times of full employment and economic boom, the companies have to close the factory gates forever. In other words, you are going into bankruptcy. It doesn’t always have to be. It is often “human traits” that have led to this development because you have reacted too late to financial risks. The bankruptcy doesn’t just fall from the sky. There are numerous references in advance that indicate this. But if the entrepreneur or board of directors does not react to this, the downfall is preprogrammed. Such notices can be i.e.:

• Sales collapse
• The price is under pressure because the competition can offer cheaper
• Equity tends to zero
• Customers do not pay on time
• Suppliers only deliver to you if you make payments in advance
• The bank does not grant any further overdraft facilities and allows direct debits to be returned
• Employees switch to the competitor companies
• Rumors about your own company are spreading in the industry

If insolvency is identified or threatens to become insolvent, every entrepreneur must consider opening insolvency proceedings. Often just because it is required by law. Because there are corporate legal forms in which the managing director is even legally obliged to apply for bankruptcy in the event of insolvency. Nevertheless, measures can be taken in advance of a possible bankruptcy to prevent this by, for example, a comparison with the creditors is possible.

But this is only possible if the affected person becomes active before a possible crash.

Our lawyers for insolvency law advice debtors and creditors in all crisis situations and regardless of whether the bankruptcy maturity has occurred, an insolvency application has been made or the insolvency proceedings have already been opened.

Our partner lawyers support debtors with the application and representation in insolvency proceedings. With regard to the profitable areas of a company that absolutely need to be saved, they advise on restructuring, protective shield procedures, self-administration and insolvency plan procedures. If you, as an entrepreneur, have already been put at a disadvantage by an insolvency administrator or other creditors (such as social security funds or tax authorities), we will defend you within the framework of the civil and criminal law in order to avoid personal liability on your part.