Best Restructuring & Insolvency Lawyers in Frankfurt am Main

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ASMEI LAW | 德国昂士律师事务所
Frankfurt am Main, Germany

English
ASMEI LAW | 德国昂士律师事务所 is a distinguished law firm based in Germany, renowned for its comprehensive legal services and deep understanding of both German and international law. The firm's team of seasoned attorneys brings extensive experience across various legal disciplines,...
W | S | H | P Rechtsanwälte und Notare
Frankfurt am Main, Germany

English
W | S | H | P Rechtsanwälte und Notare is a distinguished legal practice in Germany renowned for its comprehensive expertise across various legal disciplines and notarial services. Their team of proficient attorneys and notaries demonstrate a deep understanding of both domestic and international...
Lupp + Partner - Frankfurt
Frankfurt am Main, Germany

Founded in 2021
English
Lupp + Partner's Frankfurt office specializes in private equity and M&A transactions, with a particular emphasis on the technology sector. The firm offers comprehensive services in corporate deals, venture capital investments, technology transactions, and real estate deals, catering to a diverse...
Annerton Rechtsanwaltsgesellschaft mbH
Frankfurt am Main, Germany

Founded in 2020
English
Annerton Rechtsanwaltsgesellschaft mbH stands out as a premier law firm in Germany, specializing in offering exceptional legal services within their expert domains. Their team of seasoned attorneys is renowned for combining legal proficiency with in-depth industry insights. They are dedicated to...
Covington & Burling LLP
Frankfurt am Main, Germany

Founded in 1919
English
Covington & Burling LLP is renowned for its sophisticated legal expertise and strong presence in Germany, catering to a diverse clientele with a range of specialized services. The firm's lawyers are well-versed in various practice areas including corporate law, regulatory and public policy matters,...
Weil, Gotshal & Manges LLP
Frankfurt am Main, Germany

Founded in 1931
1,100 people in their team
English
German
Founded in 1931, Weil has provided legal services to the largest public companies, private equity firms and financial institutions for the past 90 years. Widely recognized by those covering the legal profession, Weil’s lawyers regularly advise clients globally on their most complex Litigation,...
Dr. Iranbomy
Frankfurt am Main, Germany

Founded in 2000
50 people in their team
German
English
ATTORNEYDR. DR IRANBOMYWelcome to the law office of Dr. dr Iranbomy!The law firm will be happy to process your legal questions online or by telephone. Describe your legal problem by email ( info@iranbomy.com ) with your contact details. In exceptional cases, you can call the law firm if you think...

Founded in 2017
English
LAT Legal | leaves and trees | Rechtsanwaltskanzlei, based in Frankfurt am Main, Germany, specializes in employment and migration law, residency law, and business formation within Germany. The firm offers comprehensive legal services, including advising on work visas, work permits, and business...
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About Restructuring & Insolvency Law in Frankfurt am Main, Germany

Frankfurt am Main is a major financial and economic hub in Germany, which makes restructuring and insolvency law particularly significant in this city. Restructuring and insolvency law involves the legal processes and regulations that govern how businesses and individuals handle financial distress, debt repayment, and insolvency proceedings. The aim of these laws is to either help companies and individuals recover financially or guide them through a fair and orderly insolvency process. In Frankfurt, courts, professionals, and advisors have extensive experience handling complex insolvency cases due to the city's financial prominence.

Why You May Need a Lawyer

People and businesses may require legal assistance with restructuring and insolvency for many reasons. If you are facing overwhelming debt, difficulty meeting financial obligations, or creditor actions such as asset seizure, a lawyer can help you evaluate your options under the law. You may also need a lawyer if you are a business owner considering a formal restructuring to avoid insolvency, or you want to make use of available legal frameworks for debt relief. Creditors, employees, suppliers, and shareholders may also need advice to protect their rights and interests when a company they deal with is at risk of insolvency. In all situations, a specialist lawyer can guide you through legal procedures, safeguard your assets, and help you achieve the best possible outcome.

Local Laws Overview

Restructuring and insolvency in Frankfurt am Main are governed primarily by the German Insolvency Code (Insolvenzordnung - InsO). This code sets out the procedures for both company and personal insolvency, including self-administration (Eigenverwaltung) and protective shield proceedings (Schutzschirmverfahren). Recent reforms have introduced further options for out-of-court restructuring under the StaRUG (Company Stabilisation and Restructuring Act), providing tools to avoid insolvency by negotiating agreements with creditors. Local courts in Frankfurt have specialist divisions for insolvency matters and work closely with insolvency administrators, restructuring advisors, and financial experts. Understanding the correct procedure and deadlines is crucial, as failing to act promptly can have serious legal and financial consequences.

Frequently Asked Questions

What is the difference between restructuring and insolvency?

Restructuring refers to reorganizing a company’s debts, operations, or structure to avoid insolvency. Insolvency means being unable to meet financial obligations when they become due, which can lead to formal court proceedings for debt resolution or liquidation.

How do I know if my business is insolvent?

A business is considered insolvent if it cannot pay its debts as they come due or if its liabilities exceed its assets. German law requires company directors to assess insolvency promptly and, if insolvent, file for insolvency in a timely manner to avoid personal liability.

What should I do if creditors are threatening legal action?

Seek legal advice immediately. A lawyer can help you negotiate with creditors, review your financial situation, and determine whether restructuring or insolvency proceedings are appropriate.

Can I keep my business running if I file for insolvency?

In many cases, yes. German law allows for continued business operations under certain insolvency proceedings, such as self-administration, which can maximize value and potentially save jobs.

What is the Schutzschirmverfahren (protective shield proceeding)?

This is a special procedure under German insolvency law allowing financially distressed companies to prepare a restructuring plan while being protected from creditor enforcement actions. It must be initiated before insolvency is declared and requires court approval.

How long does an insolvency procedure take in Frankfurt?

The duration depends on the complexity of the case and the type of proceedings. Simple personal insolvencies may take several years, while corporate insolvencies can last from several months to a few years.

Can private individuals declare insolvency?

Yes, private individuals can file for consumer insolvency (Privatinsolvenz) if they are unable to pay off their debts. The process provides a path to debt relief over several years, subject to specific legal requirements.

What liabilities do directors face during insolvency?

Company directors have strict legal duties to file for insolvency promptly once insolvency is detected. Failure to comply can result in personal liability and, in severe cases, criminal charges.

Do creditors receive full payment in insolvency?

Usually, creditors receive only a portion of their claims, depending on the debtor’s available assets and the insolvency plan approved by the court. Secured creditors may receive higher repayments than unsecured creditors.

Are out-of-court restructurings possible?

Yes, out-of-court restructuring is possible and often preferable. The StaRUG law provides mechanisms for companies to negotiate with creditors outside formal insolvency, potentially avoiding court proceedings and preserving the business.

Additional Resources

- The local District Court Frankfurt am Main (Amtsgericht Frankfurt am Main - Insolvenzgericht) handles insolvency filings and proceedings. - The German Association of Insolvency Law and Restructuring Specialists (VID) provides information and listings for qualified professionals. - The Federal Ministry of Justice and Consumer Protection (BMJV) publishes guides and updates on insolvency law. - Local chambers of commerce, such as the IHK Frankfurt am Main, offer advisory services for businesses facing financial difficulties.

Next Steps

If you are facing financial distress or have received notices from creditors, it is advisable to seek professional legal advice as early as possible. Start by gathering relevant financial documents, such as balance sheets and creditor lists. Contact a specialized lawyer in restructuring and insolvency in Frankfurt am Main for an initial consultation. They can assess your situation, explain your options under local law, and help you plan the best course of action. Taking proactive steps can protect your assets, reduce personal risks, and increase the chances of a successful recovery or orderly resolution.

Lawzana helps you find the best lawyers and law firms in Frankfurt am Main through a curated and pre-screened list of qualified legal professionals. Our platform offers rankings and detailed profiles of attorneys and law firms, allowing you to compare based on practice areas, including Restructuring & Insolvency, experience, and client feedback. Each profile includes a description of the firm's areas of practice, client reviews, team members and partners, year of establishment, spoken languages, office locations, contact information, social media presence, and any published articles or resources. Most firms on our platform speak English and are experienced in both local and international legal matters. Get a quote from top-rated law firms in Frankfurt am Main, Germany - quickly, securely, and without unnecessary hassle.

Disclaimer:
The information provided on this page is for general informational purposes only and does not constitute legal advice. While we strive to ensure the accuracy and relevance of the content, legal information may change over time, and interpretations of the law can vary. You should always consult with a qualified legal professional for advice specific to your situation. We disclaim all liability for actions taken or not taken based on the content of this page. If you believe any information is incorrect or outdated, please contact us, and we will review and update it where appropriate.