Insolvency administrator

The insolvency administrator is a qualified person appointed by the insolvency court to manage the assets of an insolvent company. The administrator’s task is to satisfy the creditors jointly and to the greatest possible extent, by continuing and restructuring the company or by realising its assets. When the proceedings are opened, the right to manage and dispose of the assets passes to the insolvency administrator (Section 80 of the German Insolvency Code), who decides on ongoing contracts, examines avoidance claims and keeps the insolvency schedule.