In recent years, legislation and case law have vastly expanded the liability risks for the managing directors of a limited liability company [GmbH] or members of the management board of a public limited company [Aktiengesellschaft].
Only a management that adheres strictly to the law during the companyʼs crisis is on the safe side. To enable it to do so, it is important for a management that itself has no knowledge of insolvency to obtain insolvency advice from experienced experts.
anchor Rechtsanwälte is particularly qualified to advise companies in times of crisis. We provide early warnings so that liability risks can be avoided (“crisis airbag”). Together with the management and other business and tax consultants, we clarify whether and when there are grounds for insolvency, steer the management through the crisis and together with the management devise strategic solutions.
If insolvency is unavoidable, we explain all the restructuring options afforded by the German Insolvency Code and formulate these based on our wide-ranging restructuring expertise. This applies particularly to insolvency proceedings with debtor-in-possession management and protective shield or restructuring plan proceedings.
During a crisis we advise shareholders so that company assets are preserved and shareholders avoid the risk of being held liable themselves. We support shareholders to take disinvestment and liquidation decisions and prepare risk analyses and alternative courses of action for the use of all the restructuring instruments available (protective shield proceedings, restructuring plan). In addition, we offer solutions in crisis situations, such as transformations or mergers, as provided under company law so that the company can be restructured.
We advise creditors and banks when their customers get into serious difficulties and also represent them in insolvency proceedings and on creditors’ committees. We advise financers on the evaluation of expert opinions on restructuring and with regard to the extension of restructuring loans. With years of expertise as insolvency administrators, we also assist banks in analysing the potential damage and restructuring scenarios of their contractual partners. We make comparative calculations and estimate the potential risks of avoidance or restructuring. In the interest of creditors, we preserve company assets within the framework of flexible trust models (known as two-way trust). In complex restructuring processes, we coordinate teams of advisers and financial backers to ensure added value is created through the restructuring; we advise creditors on the plausibility and formulation of customers’ debtor-in-possession management or restructuring plans and also represent creditors’ interests when warding off avoidance claims.
Overview of grounds for insolvency – German only (pdf)
The practice of filing for insolvency– German only (pdf)
Inadequate conduct of the proceedings by the main debtor is detrimental to guarantors – German only (pdf)