Review of Grounds for Filing for Bankruptcy (IDW S 11) –
Providing Certainty in Times of Crisis

Recognizing the grounds for filing for bankruptcy in a timely manner

During a corporate crisis, it is of paramount importance to continuously assess whether the company is on the verge of insolvency and thus required to file for bankruptcy. Only through a professional assessment can the risk of liability—or even criminal liability—on the part of management be ruled out.

In addition to statutory regulations, this requires in-depth knowledge of relevant Federal Court of Justice (BGH) case law. A distinction must be made between (impending) insolvency and over-indebtedness. The standards of the Institute of Public Auditors in Germany (IDW S11) are particularly relevant for the methodology of the review.

At Aderhold, we possess both the legal and business management expertise to identify the existence of grounds for filing for insolvency in a timely manner and to provide reliable advice to management on this matter.

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