Rescue company
A rescue company is to rescue the business operations of the bankruptcy founded geratenen enterprise society . This takes over the operating resources from the bankruptcy debtor and continues business operations unencumbered by the existing liabilities . Any profits generated are transferred to the insolvent company.
backgrounds
If a company becomes insolvent or over-indebted - that is, it faces bankruptcy, its creditors must expect that their claims can no longer be realized and become worthless. That is why an attempt is sometimes made to delay the insolvency by setting up a rescue company in order to prevent bankruptcy. In addition, rescue companies (also: employment companies) are founded as part of the social plans of companies threatened by insolvency, in order to give the departing employees a seamless exit from the company and (re) entry through qualification or employment (e.g. in the context of temporary work or temporary employment ) in another company in the first labor market . With the transfer to the rescue company, cuts in the wage and salary structure can be associated with the affected employee, as the collective bargaining agreement no longer applies. However, it is possible to apply for short-time transfer allowance at the Employment Agency.
