With high standards in receivership
“The administration of an insolvent firm is a responsible task to which we are dedicated with all our expertise, diligence and complete labour. You will get to know our services in all detail here.”
When a court appoints one of our experts as receiver, this is to us a call for motivation and demand. This is bearing in mind that when we take over the business management of a company in the insolvency proceedings, many expectations are placed on us: Creditors want to receive a high percentage of their claims as quickly as possible, the entrepreneur wants to put his enterprise on a solid foundation again, courts expect the most unproblematic course of the proceedings possible.
Receivership with legal expertise and competence in business administration
The most elaborate tasks of a receiver include ensuring the continuation of operative business, communicating with employees, suppliers and customers, satisfying creditors, obtaining debt-relief for the enterprise, drafting an insolvency plan or liquidating the debtor’s assets. We take on these challenges not only based on our legal expertise. In light of our many years of experience and having managed more than 3,000 insolvencies, we also have the needed business know-how, the commercial competency and the communicative finesse.
Here are some examples from our practice as insolvency administrators:
Our tasks in receivership
Do you have questions about our work in insolvency administration? You are welcome to contact us.
Creditor information system
View select insolvency proceedings online here.
Besides legal expertise, the continuation of a business in insolvency also requires good intuition and decision-making competency in management. After all, the aim is to preserve values: know-how is to stay in the company and jobs are to be secured. To assure this, a company must be reorganised so it is competitive again and returns to profitability. To us, as the receivers, it is therefore decisive to understand the causes of a crisis and determine the chances of success of potential measures. On this basis, we can develop and implement promising restructuring solutions.
Sustainable restructuring strategy: Preserving values and enterprises
If we continue a business in times of insolvency, we not only want to assure the continuous operative business. Furthermore, we want to inform employees comprehensively, get them involved and communicate with all stakeholders – customers, partners, creditors. The task of a receiver also includes implementing necessary and sometimes difficult restructuring measures emphatically but with the required finesse. We therefore always approach sales of company assets or parts of the business constructively and in orientation on lasting development. That is to say, our strategy for the continuation of businesses in insolvency is “long-term preservation.”
This is decisive for the continuation of the business in insolvency.
- Informing and involving employees
- Determining the causes of
- the crisis, developing restructuring measures
- Implementing measures, making decisions that will point the way
- Assuring the preservation of the company
Do you have questions about the continuation of business?
An insolvency plan not only has to live up to many interests, it should also be realistic and practicable because the creditors have to agree to it after all. Foremost, however, the insolvent enterprise must be able to master the developed measures. The insolvency plan, set on a solid foundation, is the essential tool for the restructuring of a company in disarray. The prerequisites for this are the exact analysis of the actual condition and the development of appropriate restructuring measures.
When we develop an insolvency plan, we bundle our competencies in the fields of rehabilitation and restructuring, as well as labour and tax law with the corresponding management experience. At the same time, we can always rely on our highly capable network of experts for specialised questions.
What characterises a successful insolvency plan?
Planned measures are documented in the insolvency plan. The document must furthermore show which steps have already been implemented and which are currently still underway. Moreover, the pursued objectives must be worded clearly and the effects described, which result for the stakeholders, meaning for creditors and shareholders. It is not sufficient in particular to simply draft the document. Rather, the plan must be discussed and agreed with all parties. If the creditors agree to the plan in the insolvency negotiations of the creditors’ meeting, this will provide authorisation to implement the planned measures.
We concentrate on this as relates to the insolvency plan.
- Reliable analysis of the actual condition
- Practicable restructuring measures and objectives
- Comprehensive description of effects on the stakeholders
- Discussion of the plan with all stakeholders
Would you like to find out more about receivership, the continuation of businesses in insolvency or the development of an insolvency plan? Your contact is looking forward to answering your questions personally.