Restructuring by transfer

The classic bank financing will continue to play an important role for medium-sized companies in the future. It is for this reason that reliable, long-term relationships between company and house bank are an essential part of a sustainable financing strategy. The banking sector is currently undergoing a phase of fundamental change - not least as a result of the banking and financial crisis. It is not unusual for the customer relationships with medium-sized companies to suffer as a result. Changed structuring organisation and banking processes are often not transparent for companies. It is not unusual for the contact person to change frequently.

We can help you in this area. We can assist you in actual negotiations with your bankiRestructuring by transfer means, unlike in the case of the insolvency plan procedure, replacing the business owner, i.e. the company is taken over by an interested party (e.g. also by competitors, employees).  Restructuring by transfer is usually an option if the company itself is not in a position to restructure itself on the basis of its own funds with the aid of the insolvency plan proceedings. In this case the product or the "know-how" of the company is of particular interest to a third party.

Restructuring by transfer in insolvency law means the sale of the assets of an insolvent company to another legal or natural person. This new owner is free from the old debts of the original company and this makes it possible for the operation to start afresh. This must be seen in relation to restructuring where all measures to maintain a company, operation or its parts must be taken under the previous legal owner in its narrowest sense. The creditors of the insolvent company are paid out on a pro rata basis from the purchase price  which the new business owner must pay for the assets being transferred.
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Key Contact

Carsten D. Liersch

Lawyer and Insolvency Administrator, Accredited Specialist in Insolvency Law
T +49 30 851029-0