The path to an insolvency plan in protective shield proceedings - the opportunity for companies.

A faster process with greater autonomy for the board of directors

The protective shield procedure introduced a few years ago in accordance with Section 270d of the German Insolvency Code (InsO) is another instrument of modern insolvency law as a court-ordered reorganisation measure. It is a reorganisation-oriented modification of preliminary insolvency proceedings with the aim of drawing up an insolvency plan under self-administration.

Strict procedural requirements serve as compensation for the greater autonomy of the debtor. In particular, timely, well-prepared and documented measures are required. Our insolvency law specialists have extensive expertise and experience.

As with all our insolvency administrations, our focus is on reorganising companies in such a way that they have good prospects for the future. Our highly professional and dedicated approach means that we do everything we can to rescue the company, save jobs and satisfy the interests of creditors to the greatest extent possible.

The special features of protective shield proceedings

Enables an insolvency plan to be drawn up within a short period of time (maximum three months) under the supervision of a custodian

  • The company itself can propose a custodian to the court
     
  • The reorganisation takes place by way of self-administration
     
  • Over-indebtedness and imminent illiquidity are no obstacles
     
  • Higher expenditure predestines medium-sized and larger companies in particular for these proceedings

Our services:

[Translate to Englisch:] Unsere Leistungen
  • Conceptual preparation and pre-structuring of the process
     
  • Preparation of a reorganisation concept including short and medium-term liquidity, earnings and personnel planning
     
  • Preparation of the necessary certification by an independent third party experienced in insolvency law, Section 270d (1) InsO
     
  • Preparation of internal and external communication
     
  • Identification of management liability risks

Your added value at glance:

[Translate to Englisch:] Ihr Mehrwert auf einen Blick
  • Your company’s board of directors largely retains control
     
  • The board of directors has the right to propose a custodian of its choice to the court
     
  • Advantageous external image: the public tends to perceive protective shield proceedings as an out-of-court measure and, in addition, courts often refrain from making public statements
     
  • The support of a custodian or (additional) chief restructuring officer (CRO) from one of Germany’s leading insolvency law firms
     
  • Transparent and professional communication to build trust among creditors, employees and, where applicable, the public

Just one of the advantages of the protective shield proceedings: In most cases, they are not perceived by the public as insolvency proceedings

Examples of our successful involvement in protective shield proceedings:

Selected references

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