Transferring renovation
The transferring restructuring in insolvency law describes the sale of the assets of an insolvent company to another legal or natural person . The healthy parts of a company are "transferred" to a new company. This new company is called the “ rescue company ” because the business operations are “caught”, i.e. saved, with it. Selling a company by means of transferring restructuring is more common in practice than restructuring by means of an insolvency plan .
Consequences for bankruptcy debtors and creditors
The debts and the no longer viable parts of the company remain with the insolvent company, which is liquidated as part of the bankruptcy proceedings. The rescue company is free of the old debts of the original company and enables the company to start over. In this way, the business operations are largely saved and most of the jobs can be saved.
The creditors of the insolvent company are paid proportionally from the purchase price that the new company owner has to pay for the transferred assets .
Required consent from the creditors
The transferring restructuring requires the approval of the creditors' meeting in accordance with Section 160 (2) No. 1 InsO . In practice, the creditors' meeting often lacks a quorum because the majority of the creditors do not appear. Section 160 (1) sentence 3 InsO introduced by the law to simplify insolvency proceedings of April 13, 2007 fakes the approval in these cases.
Operations Transfer
In order to avoid the effect of § 613a BGB on the transferring restructuring, in practice the employees are often transferred to an employment and qualification company (transfer company) and are partially taken over from there by the purchaser.
Individual evidence
- ^ Term from: Schmidt, ZIP 1980,336.
- ^ Zipperer , in: Uhlenbruck, Insolvenzordnung, 14th edition 2015, § 159 InsO marginal no. 47
- ↑ Improved opportunities for corporate restructuring - press release ( memento of March 20, 2013 in the Internet Archive ). Federal Ministry of Justice. Retrieved October 10, 2013.
- ^ Zipperer , in: Uhlenbruck, Insolvenzordnung, 14th edition 2015, § 159 InsO marginal no. 47
- ↑ Federal Law Gazette IS 509.
- ^ Zipperer , in: Uhlenbruck, Insolvenzordnung, 14th edition 2015, § 157 InsO marginal no. 9
