We have been managing corporate insolvencies in all industries and of all sizes including listed stock corporations for many years. Our goal is to save companies and jobs while best satisfying the creditors. The German Insolvency Statute (InsO) offers multiple structuring opportunities ranging from reorganizations with a transfer of ownership to social plans with reconciliation of interests to insolvency plan proceedings. The instruments are selected jointly with the court, creditors, shareholders and directors. We view our dual mandate task as first identifying the available options and then implementing them after coordinating with our clients.
Two of our partners are well-established insolvency administrators who are regularly appointed by insolvency courts in the Northern Germany as insolvency administrators, trustees and experts. In each proceeding, we additionally rely on different teams of attorneys and proceedings managers fitting the requirements of the respective operation and complexity of the proceeding. Our entire team and all partners of our law firm thus display extensive professional experience in insolvency and restructuring cases.
The range of the various proceedings from the past years can be illustrated through the following examples:
» reorganization in insolvency plan proceedings: 18 month continuation of a wind energy project planning and generation division as well as an energy supply branch; transfor-mation of the debtor into a cooperative; debt/equity-swap of more than 35,000 creditors; administration and disposal of assets in the nine-digit range
» numerous ship insolvency proceedings and proceedings with a connection to the mari-time economy: continuation of the respective ship operation, prolongation of various charter agreements; reorganization with transfer of ownership through the sale of ships in agreement with the banks financing the ships
» insolvency monitor in a protective shield procedure according to s 270b of the German Insolvency Statute (InsO): business operations were continued by the debtor in posses-sion and the company active in the processing industry (metal) was reorganized by an in-solvency plan.
» liquidation of an energy supply company (electricity and gas) in standard insolvency proceedings; consideration of a large number of creditors
» liquidation of an electrical wholesaler in a standard insolvency proceeding
» liquidation of a travel service provider in a standard insolvency proceeding; considera-tion of a large number of creditors
» reorganization including transfer of ownership by an insolvency plan accompanying the proceedings: the heating power plant of the debtor (heritable building right) was sold to an investor (asset deal); an insolvency plan previously regulated the satisfaction of more than three hundred mortgagees
» entrepreneur insolvency proceedings (criminal insolvency): realization of complexly structured and heavily over-collateralized private assets in Germany and abroad (Swit-zerland) after an investors’ scandal
» multiple consumer and estate insolvency proceedings
SJPP conducts its insolvency administration activities in independent company Schmidt-Jortzig Petersen Penzlin Insolvenzverwaltung Partnerschaft von Rechtsanwälten mbB.
About our proceedings.
At this point, creditors and business partners of an insolvent enterprise may find information about some of the proceedings managed by SjPP (in German only).
Creditor Information System.
The Creditor Information System (German "Gläubigerinformationssystem", abbreviated: "GIS") allows you to view our proceedings online (in German only). You will receive information on the current state of the proceedings, may review your lodged claims and learn wether they have been accepted or rejected. We provide this service to the creditors in selected proceedings.