A company Insolvency is not an easy situation for any entrepreneur, but it can happen at any time. Frequently there are also external influences for which the entrepreneur can do nothing. This makes it all the more important to recognise in good time when an Insolvency application has to be made.
A company Insolvency is similar to a private Insolvency. However, the whole procedure is much less simple for companies and is officially referred to as a regular Insolvency. Once the Insolvency petition has been filed, the company can either be reorganized, liquidated or dissolved within the framework of the Insolvency proceedings. (more…)