Go-getters turning around corporates: we help creating new perspectives
In Germany, the number of insolvencies has been declining for many years. In 2014, 24,549 companies had to file for bankruptcy, which corresponds to a decrease of 8.2% compared to the previous year.
Ten years ago, the number of insolvencies was around 40% higher. However, this does not mean that local insolvency administrators do not have a high workload: due to increased internationalisation of companies, technology-driven additions to value chains and changes in the regulatory frameworks, the job of insolvency administrators is more complex than ever before.
When compared to many other nations, the German Insolvency Law is modern and very flexible. Successful restructuring of corporations is likely if insolvency proceedings opened in due time. Quite often companies file for insolvency, are getting restructured and show sustained profitability afterwards.
Quick reaction times, a comprehensive knowledge of the business situation and a feeling for the industry’s characteristics and trends are basic requirements for insolvency administrators.
As an independent consultant PJSC do have these basic requirements. We advise insolvency administrators in Germany in different audits, in restructuring processes, in finding new investors or when a company has to be sold (completely or partly). Our experts have deep insight in all the relevant industries due to their long-standing work as consultant. In addition, we are familiar with all relevant legal requirements and have a strong entrepreneurial understanding which can significantly increase the success of such realignments.