New legislation for the insolvency law
Various amendments have gradually been implemented into the Insolvency Code (InsO) [Insolvenzordnung] since 2012. They are aimed at improving the chances of restructuring for corporate bankruptcies, shortening the bankruptcy discharge proceedings for consumers, and strengthening the rights of creditors. The greatest effect was achieved with the Law on Further Facilitating the Restructuring of Companies (ESUG) [Gesetz zur Erleichterung der Sanierung von Unternehmen]. Progress is also being made with regard to a new corporate insolvency law, both nationally and internationally.
The insolvency law team at LSV provides tactful and sensitive advice to sole proprietorships, publicly traded companies, investors and credit institutions in this legal field. In general, we succeed in defining legally binding as well as legitimate strategies and room to maneuver, as long as the state of insolvency has not yet occurred. We always develop solutions related to the respective circumstances for our clients. In so doing, our focus is not only on laws and figures. In our opinion, key words such as business plan, exit strategy, sustainability and life planning of the involved persons also play an important role. We strive to achieve a comprehensive solution and our aim is only attained when the implementation or the survival of the company is secured.
Experience and unique expertise make the difference
The insolvency law team at LSV is managed by a partner who has amassed a wealth of experience with restructuring and insolvency law over a period of more than 25 years in all industries in his function as advisor, as well as liquidator, insolvency consultant and trustee. In several hundred cases, he acted as advisor, representative or consultant and liquidator. Dealing with insolvency law requires intimate insights into the practical correlations and procedures. Apparently impossible, ambitious and creative solutions can only be achieved with genuine, strong legal and technical expertise, familiarity with the special connections and backgrounds in the world of liquidators and insolvency courts that are not published in the literature or on the internet, combined with empathy and psychology during the implementation.
To be able to provide prudent and optimal advice, knowledge of the employment, tax and criminal law is required in addition to a sound understanding of insolvency and corporation law. Unwanted surprises for a client can only be ruled out if the facts are investigated and evaluated from all angles.
LSV covers all fields of law that are relevant in the context of restructuring and insolvency. Our well-coordinated team arranges for the assessment (counseling) to be conducted from different perspectives and offers sustainable solutions.
Areas of expertise
- Restoration and securing of the liquidity, cash pooling within the company group,
- Liquidations, insolvency protection proceedings, administrator, reorganization under employment law
- Mergers & acquisitions
- Purchase of assets before the insolvency, purchase of assets in administration
- Balance sheet insolvency, turnaround projects
- Due diligence
- Distinction between reorganization/duty to file for insolvency, legal framework conditions Reorganization
- Creditor representation
- Securities, credits, pooling, pooling arrangement representation
- International insolvency law
- Center of main interest