Duty to safeguard Interests an Risk Management - Advice ahead of impending Insolvency

When advising on restructuring and crises, the duty to safeguard interests is of central importance, i.e. the duty to protect the interests of all stakeholders, including creditors and employees, while also endeavouring to ensure the continued existence of the company. We offer comprehensive support when navigating a corporate crisis.

Monitoring for any obligation to file for insolvency

We constantly watch out for any obligation to file for insolvency and remain alert for early signs of insolvency, or the inability to settle debts. This allows us to take timely action to ensure the continued existence of your company. Our business monitoring takes all relevant factors into account to make sure that insolvency is avoided.

Management’s duty of care

We advise you on all aspects of management’s duty of care obligations, taking into account the interests of shareholders and creditors. We ensure that you act at all times in accordance with your duties and minimise liability risks. Rigorous testing for over-indebtedness is a key element of our services. The aim here is to identify potential insolvency pitfalls at an early stage.

Documentation of board actions

Ongoing documentation of board actions is crucial in order to demonstrate compliance with legal obligations. We support you around preparing and maintaining complete documentation.

Strategies for avoiding insolvency pitfalls

As part of our restructuring and crisis advice, we develop strategies to avoid insolvency pitfalls and preserve company assets. We focus on early identification and assessment of insolvency risks and financial bottlenecks so that proactive countermeasures can be taken. Our restructuring advice also includes preparing recovery and restructuring plans aimed at sustainable company rescue, thus helping to avoid insolvency pitfalls.

Some of our specific services include:

• Advice ahead of impending insolvency
• Drafting an insolvency plan
• Advice on self-administration and appointment of a custodian
• Preparing and submitting insolvency applications
• Company rescue and recovery
• Advice on insolvency law and the Stabilisation and Restructuring Act (StaRUG)
• Insolvency advice and liquidity planning