An insolvency application for a company, be it a sole proprietorship, a GmbH or any other legal form, is always a difficult step for all parties involved. It comes with numerous legal questions which must be competently discussed and classified in advance. We support you with our expertise as lawyers specialising in insolvency law in all aspects of the insolvency application and in all conceivable scenarios.
Insolvency application for private individuals?
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Firstly, it is necessary to question the reasons for the insolvency application. Is it an mandatory application as is often the case with limited liability companies, is it a voluntary application by an entrepreneur with the aim of being released from debts at the end of the proceedings or is there already a third-party application by a creditor? Are there still private assets or retirement provisions? What happens to the family property in insolvency proceedings? In each of these constellations there are numerous legal questions and possible arrangements. For this reason alone, an insolvency application should never be made without prior individual consultation. Once a provisional insolvency administrator has been appointed, you will lose your ability to influence the proceedings. We support you in taking the right measures and, in the best case, help you to preserve existing value or at least minimise your liability.
A further advantage of the application consultation is that we can show you in the first consultation whether and under what conditions you can continue your business and what design potential the Insolvency Code offers for your company.
When filing for insolvency, it should also be noted that even a late or incorrectly formulated insolvency application can have serious legal consequences, up to and including criminal charges fordelaying insolvency, or can lead to you not being released from your debts at the end of the proceedings.
Head and hands free in the crisis
If you wish, we can take over all the work involved in filing for insolvency. Bring all your creditor documents to the initial meeting, we will complete the application forms in consultation with you and draw up a list of creditors. This will allow you to concentrate on your core business during a company crisis. In this way you avoid liability risks from the very beginning and start insolvency proceedings with the best possible conditions under the circumstances, despite the difficult conditions.
If you wish, we will of course accompany you to the first meeting with the expert and provisional insolvency administrator and also in the later course of the proceedings. The fact that you will be advised and accompanied by specialist lawyers opens up fundamentally different possibilities for structuring the proceedings. Thanks to my many years of experience and knowledge of the industry, we are in a position to recognise the intentions of the insolvency administrator and to show you options for action at an early stage. This gives you a much broader range of action than if you represent yourself alone or consult a lawyer who is an expert in another field.
Call us without obligation if you are considering filing for insolvency. Together we will sound out your options for action.