Insolvenzplan

An Insolvenzplan (insolvency plan, the plan creditors vote on in German insolvency proceedings) is an important element of insolvency proceedings, with the aim of reaching an agreement between a company in financial difficulty and its creditors. The Insolvenzplan describes how the company’s debts are to be paid and which conditions the creditors must accept.

Once the Insolvenzplan has been accepted and the court has issued a decision, the insolvency proceedings are ended and the company is able to act again. The Insolvenzplan marks the end of the restructuring process and constitutes an agreement between the company and its creditors.