Insolvency plan proceedings as a legally binding tool for corporate restructuring
The insolvency plan is the tool for implementing a developed restructuring concept in legal terms. Using the restructuring tools of insolvency law, the financial and operational restructuring measures are determined and laid down in a legally binding manner for the company and the creditors, much like a restructuring agreement.
The possibilities of an insolvency plan are almost unlimited, provided only that the plan does not leave the creditors worse off than they would be if the insolvency proceedings were carried out. It is precisely this necessary improvement in their position that makes the insolvency plan so persuasive for creditors.
At the same time, the insolvency plan stands for preserving the company and thus for preserving economic value. Ultimately, a win-win situation for the creditors and the company alike.
ADVANTAGES OF THE INSOLVENCY PLAN
Compared with an out-of-court restructuring, the insolvency plan offers invaluable advantages:
- Short duration
- Implementation of corporate law measures
- Enforcement of the insolvency plan even against the will of individual creditors or a group of creditors
- Use of the restructuring tools of insolvency law
- LECON supports you in preparing, presenting and implementing the insolvency plan and works with you to make the plan a success. Key to this are intensive communication with all parties to the proceedings and a just and fair balance between the differing interests.
Our services at a glance:
- Preparation and review of insolvency plans
- Preparation and review of turnaround concepts
- Professional communication with all parties to the proceedings
- Support in implementing restructuring concepts and insolvency plans
