Business Law

Restructuring Law

Professional crisis management and restructuring

Your Partner in Corporate Crises

Corporate crises can affect any business — what matters is acting quickly and correctly. Restructuring and insolvency law (Sanierungsrecht) offers a range of instruments for managing a crisis, from out-of-court restructurings to formal insolvency proceedings. Early, expert advice can often still save the company and pave the way for a sustainable turnaround.

A core focus of our advice lies in preventive crisis counsel and the development of tailor-made restructuring strategies. We analyse the crisis situation, work out viable courses of action and accompany you throughout implementation — whether through out-of-court agreements with creditors, StaRUG (German Corporate Stabilisation and Restructuring Act) proceedings or formal insolvency proceedings. Throughout, we keep the specific needs of your company and your stakeholders firmly in view.

In out-of-court restructuring, we support you in negotiations with banks, suppliers and other creditors. We structure deferral arrangements, develop restructuring concepts and accompany the implementation of operational restructuring measures. Our aim is to find a sustainable solution that satisfies all parties involved and stabilises the company.

Since 2021, the Corporate Stabilisation and Restructuring Act (StaRUG) has offered new opportunities for the preventive restructuring of companies. We provide comprehensive advice on how to make use of StaRUG, develop restructuring plans and accompany the entire procedure - from preparation through to successful court confirmation.

In insolvency proceedings, we represent both debtors and creditors. We accompany protective-shield proceedings, develop insolvency plans for transferring restructurings and support asset deals out of insolvency. We have particular expertise in employment-law aspects of crisis situations - from business transfers to social plans and transfer companies.

In distressed M&A, we advise on corporate sales in a crisis, carve-out transactions and management buy-outs. We structure turnaround financings and introduce strategic investors. Throughout, we ensure that the transaction is designed in both legally and commercially optimal terms and that all regulatory requirements are met.

A particular focus lies on a holistic view of crisis situations. We work closely with auditors, management consultants and interim managers to develop a comprehensive solution. We take into account not only the legal but also the tax, business and employment-law aspects of the restructuring.

Our specialist lawyer for commercial and corporate law Maximilian Rohrbach has extensive experience in restructuring advice and develops tailor-made solutions with you for the preservation and restructuring of your company. We act quickly, pragmatically and in a solution-oriented manner - because in a crisis every day counts.

Crisis Identification & Management

  • Early-warning systems and crisis-indicator analysis
  • Stakeholder management in the crisis
  • Communication strategy and PR
  • Crisis organisation and contingency plans
  • Interim management and restructuring management

Restructuring Concepts

  • Development of comprehensive restructuring strategies
  • Financial restructuring and liquidity planning
  • Operational restructuring measures
  • Portfolio optimisation and asset deals
  • Cost-reduction programmes

Creditor Negotiations

  • Negotiations with banks and financing partners
  • Supplier management and supplier discussions
  • Deferral agreements and moratoria
  • Waivers and subordination declarations
  • Out-of-court settlement

StaRUG Proceedings

  • Stabilisation and restructuring framework
  • Restructuring plans under StaRUG
  • Plan proceedings and voting-rights restrictions
  • Preventive restructuring
  • Coordination with insolvency proceedings

Insolvency Proceedings

  • Protective-shield proceedings and self-administration
  • Insolvency plan and transferring restructuring
  • Asset deals out of insolvency
  • Employment-law aspects of insolvency
  • Creditor representation and creditors' committee

Distressed M&A

  • Distressed sales and accelerated transactions
  • Carve-out transactions
  • Management buy-outs from a crisis situation
  • White-knight and strategic investors
  • Turnaround financing

Your contact

Maximilian Rohrbach

Maximilian Rohrbach

Specialist Lawyer in Commercial and Corporate Law

Book a consultation

Key Deadlines

StaRUG notification: Timely notification in case of imminent illiquidity
Insolvency filing: No later than 3 weeks after the onset of illiquidity
Over-indebtedness: File without culpable delay in case of over-indebtedness
TÜV ISO 9001 certified