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Corporate insolvency at a glance - what is important to consider?

What is corporate bankruptcy?


A company bankruptcy is a procedure in which a company can no longer pay its debts and therefore becomes insolvent. There are different types of bankruptcy procedures that can be used depending on the type and size of the company. There are basically three types of insolvency proceedings: regular insolvency, simplified insolvency and self-administration.


Sooner or later, many companies are threatened with insolvency.



If excessive liabilities arise that cannot be serviced with income, insolvency occurs. If open liabilities cannot be repaid for more than three weeks, the company's insolvency is the necessary consequence.

    Another reason for filing for bankruptcy is the company's over-indebtedness: the debts exceed the company's assets and are no longer covered. There are different types of bankruptcy proceedings for companies that can be used depending on the type and size of the company. There are basically three types of insolvency proceedings (explained in more detail in the company insolvency FAQ): Regular insolvencySimplified insolvency Self-administration

Insolvency proceedings do not only have to involve creditors. The preservation of the company through restructuring (reorganization or restructuring) and financial restructuring should also be in focus. My team of experts and I, one of Germany's most successful certified debtor and insolvency advisors as well as entrepreneurs and asset protection advisors, are at your disposal for the continuation of the company and the business license before and during the insolvency proceedings.

For a company insolvency application, you should seek advice from a specialist lawyer for insolvency law or a debt advisor with sufficient expertise in advance. Because there are many unnecessarily financially painful mistakes that can be avoided with specialist knowledge.

bankruptcy for companies

Excessive demands on one's own share, demands from the tax office, economic crises... There are many reasons why a company finds itself in financial distress. We will inform you about the possibility of company insolvency and support you, if necessary, with the registration. As a rule, we can organize the insolvency within one day online and by telephone. We will send you all important documents. The speed of processing depends, among other things, on the legal form of your company. Find your way out of the red with our help.

Bankruptcy for the self-employed

When can the self-employed file for bankruptcy?


As a self-employed person (entrepreneur), you are only allowed to consider insolvency under certain circumstances. A realistic assessment of the economic situation must be available, which shows that you are either already insolvent as a self-employed person or will be in the near future.


The precise definition of insolvency for the debtor can be found in § 17 Para. 2 InsO:

"Insolvency occurs when you, as the debtor, are unable to make payments when they fall due. In general, you are deemed to be insolvent when you have stopped making payments."


§ 18 paragraph 2 InsO defines an impending insolvency as follows:

"You as a debtor are at risk of becoming insolvent if you are unlikely to be able to meet your existing payment obligations when they fall due."


In practice, this means that bankruptcy can be considered for you as a potentially self-employed person. Namely, if you should have liquidity bottlenecks of at least 10 percent within three weeks and you do not assume that you will be able to compensate for this in the near future.


Above all, if you go bankrupt as a self-employed entrepreneur, you should definitely seek the support of a competent debt counselor. As a rule, as a self-employed individual, you are liable with your private assets in the event of company insolvency. We will go through each step in detail with you over the phone and take the time to draw your attention to your rights. One advantage is, for example, that you can continue to run your business during the insolvency and, if possible, get out of the debt trap faster.


ALL necessary downloads & forms on the subject of insolvency can be found here:

Seizure table, insolvency checklist, record sheet, budget



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FAQ - Corporate Insolvency

  • What exactly is a egular bankruptcy for companies?

    Standard insolvency is a judicial procedure that serves to settle the insolvency of a company, self-employed person or freelancer. In contrast to consumer bankruptcy, which is intended for private individuals, standard bankruptcy is aimed specifically at companies.

  • What is insolvency in self-administration proceedings?

    The self-administration procedure is a legal framework for companies that want to reposition themselves during ongoing business operations.

  • What does simplified insolvency mean for companies?

    In contrast to the conventional insolvency procedure, there are some differences in the simplified insolvency procedure.

Find out more: Other topics related to corporate insolvency

Also read: Protective shield proceedings for companies

Even if it is often misrepresented in articles and the media: the protective shield procedure is already an insolvency procedure.


What is the protective shield procedure for companies?


The protective shield procedure is a special form of insolvency under self-administration in Germany. This procedure was introduced to give companies that have got into financial difficulties but are not yet insolvent a chance to restructure.

>> Protective shield procedure - All information

Also read: Insolvency Plan Procedure & Insolvency Plan

The insolvency plan procedure can be used in corporate insolvency as well as in private insolvency.

The debtor or the liquidator draws up a plan to restore the economic situation and satisfy the creditors, which then has to be approved by the creditors and the court. Where and how can the insolvency plan procedure be used?

>> To the insolvency plan procedure
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