We support company restructurings in debtor-in-possession management proceedings as custodians. Here, we draw on our wide-ranging expertise as insolvency administrators.
In debtor-in-possession management, the management itself remains in control of restructuring the company, supported by a custodian who not only monitors the company but also helps it to continue trading. In this role as custodian and “pilot”, anchor Rechtsanwälte has already demonstrated its success in numerous proceedings governed by the German Company Restructuring Facilitation Act, such as in the protective shield proceedings of the centrotherm Group, where companies carry out restructuring autonomously.
Ensuring the continuation of business operations and the restructuring of going concerns, using all the instruments available under the German Insolvency Code (restructuring plan, self-administration and protective shield proceedings) belong to our core competencies.
We feel obliged to strike a fair balance between the legitimate interests of the creditors and stakeholders. Because we act in a fiduciary capacity between insolvency courts and creditors, we help to support the restructuring process in the best way possible by professionally interacting with a management body under self-administration and assist in achieving the greatest possible success (dual-control principle).
In order to achieve the best possible creditor satisfaction, we consider the key to a successful restructuring as the ability to draw a clear boundary between the responsibilities involved in debtor-in-possession management and custodianship and also presenting a sound concept for debtor-in-possession management. Transparent personnel and remuneration structures likewise contribute to ensuring successful restructuring and safeguarding creditors’ interests.
Through our independent position, we not only enjoy the confidence of the courts but also of the creditors involved in the proceedings