Müller-Heydenreich, Bierbach & Kollegen has specialised for more than 30 years in insolvency law, particularly in the form of insolvency administration. The law firm has long been amongst the leaders in this field. Five insolvency administrators in five offices are often appointed in Bavaria and Thuringia by the Local Courts (Amtsgerichte) Munich, Rosenheim, Landshut, Nürnberg, Fürth, Augsburg, Memmingen and Meiningen. This usually occurs in company insolvencies while continuing the business, often with group structures and international reference.
The main concern of the law firm is always the continuation and survival of the insolvent companies. The insolvency administrators endeavour to avoid a break-up of the company, if possible. More favourable satisfaction of the creditors and the saving of as many jobs as possible is thereby ensured.
The administrators have in many cases achieved above average dividends for the creditors.
The insolvency administrators have frequently applied the main restructuring instruments (insolvency plan, transferring restructuring, mixed forms) successfully. Among the particular strengths of the law firm, apart from continuation of the business, are insolvency plan proceedings, group and cross-border insolvencies. The administrators of the law firm always endeavour to achieve a long-term restructuring of the operative business and at the same time to remedy illiquidity and over-indebtedness. They also use the new restructuring instruments created by the ESUG (The Act to Facilitate the Restructuring of Companies), for example self-administration. Companies which are capable of restructuring are intended thereby to be given a genuine and practically achievable restructuring chance. The new restructuring instruments include in particular:
- Strengthening of self-administration by the ordering of provisional self-administration (Sec. 270a Insolvency Code)
- Protection proceedings (Sec. 270b Insolvency Code)
- Strengthening of creditor influence, e.g. by appointment of a provisional creditors’ committee
- Expansion of the insolvency plan proceedings modelled on US insolvency law Chapter 11 (e.g. debt equity swap, Sec. 225a ss. 2 Insolvency Code)
- Avoidance of blocking of the insolvency plan by legal proceedings (e.g. Sec. 253 Insolvency Code, Sec. 258 ss. 2 Insolvency Code).
In the restructuring process, Müller-Heydenreich, Bierbach & Kollegen place great value on good cooperation with all participants commensurate with their interests (employees, suppliers, creditors, banks and shareholders). Expedition, transparency and communication are therefore very important to them. Support in the proceedings is obtained by the administrators from well trained and experienced internal employees and advisors.
The range of work includes the following areas:
- Company purchase and sale out of insolvency
- Transferring restructuring
- Administration of assets/self-administration
- Insolvency plan proceedings
- Group insolvency law
- Insolvency tax law
- Contract law
- Insolvency law special features in almost all legal areas
- International insolvency law
- Insolvency challenges according to Sec. 129 ff. Insolvency Code
- Insolvency company law and liability law
The law firm also always observes the principles of the VID and the Uhlenbruck Commission.
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