First:

The establishment of a “financial status” and – in the case of a negative financial status – a financial plan (over at least four weeks) to assess solvency.

1.

Second:

The calculation of the liquidity requirements for (at least) the current and coming financial year, which probably have to be covered (= positive survival prognosis), and – in the case of a negative survival prognosis – the preparation of an asset status to assess over-indebtedness.

2.

What is it all about?

First:
Insolvency according to §17 InsO must be excluded. This is the case when due payment obligations cannot or can no longer be fulfilled. Clear indications of this are shown in our illustration on the right .

Second:
An over-indebtedness according to §19 InsO must not be the case. This is so if, in the event of a negative prognosis of continued existence, the net assets are negative under the assumption of liquidation values.

Important note on the difference between "insolvency" and "delay in payment".

Attention, legal parlance:
"In principle, a mere delay in payment is to be assumed if the period required for a creditworthy person to borrow the required funds (financial gap) is not exceeded. This is where three weeks seem necessary, but sufficient."

If the reasons for filing for insolvency can be excluded after the preparation of a financial status, a possibly required financial plan and the determination of a positive prognosis for the continued existence of the company, the actual restructuring work begins with the preparation of the restructuring concept.

Indications of insolvency (suspension of payment):

  • Payment commitments not met
  • Reminders
  • Returned debits
  • Non-payment of electricity bills
  • Non-payment of
    social security contributions
  • Constantly putting off
    a large number of due liabilities
  • Request for respite with
    reference to other insolvency
  • Persistently sluggish payment
  • Visit of a bailiff

Our restructuring experts will be happy to explain to you in more detail how well we understand companies in crisis and their associated problems, and how we can generally solve them. Our success rate of over 90% and our recommendation rate of over 95% speak for themselves.

Your contact for remediation management:

Dietmar Buchfink
Managing Partner
Techn. Dipl.-Kaufmann
Email to Dietmar Buchfink
T +49 (0)221 91 27 30 - 68

Your contact for remediation management:

Marc-René Faerber
Managing Partner
Dipl.-Wi.-Ing., EMCCC (Insead)
Email to Marc-René Faerber
T +49 (0)221 91 27 30 - 57

Your contact for remediation management:

Konrad Fröhlich
Managing Partner
Rechtsanwalt
Email to Konrad Fröhlich
T +49 (0)221 91 27 30 - 32

Your contact for remediation management:

Georgiy Michailov
Managing Partner
Dipl.-Volkswirt, B.M. (TSUoE)
Email to Georgiy Michailov
T +49 (0)221 91 27 30 - 15

Your contact for remediation management:

Monika Dussen
Partner
Dipl.-Wirtschaftsingenieur
Email to Monika Dussen
T +49 (0)221 91 27 30 - 68

Your contact for remediation management:

Dr. Hans-Joachim Grabow
Partner
Dipl.-Kaufmann, MSc, EMCCC (Insead)
Email to Dr. Hans-Joachim Grabow
T +49 (0)221 91 27 30 - 70

Your contact for remediation management:

Jessica Hirsch
Partner
Dipl.-Betriebswirtin
Email to Jessica Hirsch
T +49 (0)221 91 27 30 - 68

Your contact for remediation management:

Heinrich Judt
Partner
Dipl.-Kaufmann
Email to Heinrich Judt
T +49 (0)221 91 27 30 - 68

Your contact for remediation management:

Benjamin Klenk
Partner
Dipl.-Wirtsch.-Ing.
Email to Benjamin Klenk
T +49 (0)221 91 27 30 - 70

Your contact for remediation management:

Felix Schwabedal
Partner
Dipl.-Volkswirt
Email to Felix Schwabedal
T +49 (0)221 91 27 30 - 32

Your contact for remediation management:

Tobias Seybold
Partner
Dipl.-Wirtschaftsingenieur
Email to Tobias Seybold
T +49 (0)221 91 27 30 - 70

Your contact for remediation management:

David Südi
Partner
Dipl.-Volkswirt
Email to David Südi
T +49 (0)221 91 27 30 - 68

In this context, we would also like to recommend the following topics: