Germany
Maximilianstr. 280539 München
Germany+49 89 4444 373-20
Kanzlei Verbracken & Partner
Personal insolvency for company directors
The company’s insolvency and your own debt relief are separate procedures. We assess which claims actually concern you and which route fits your circumstances.
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Not a separate statutory procedure
“Director insolvency” describes a situation, not a separate procedure under the German Insolvency Code. For individuals, current or past self-employment is relevant. For formerly self-employed people, section 304 InsO requires fewer than 20 creditors and no employment-related claims for consumer insolvency. Holding office alone does not determine classification.
Which claims are relevant?
Relevant claims may include personal loans, guarantees called upon, liability notices and damages. Each item is classified by creditor, timing, security and legal basis. Tort claims, fines and new debts must not be treated indiscriminately as ordinary pre-existing liabilities.
A fresh start and your professional future
Future work, income and any professional restrictions belong in the plan from the outset. Foreign proceedings add COMI and recognition issues. We coordinate the personal assessment with legal handling of the company’s case so that deadlines and duties on both levels are considered.
Your situation deserves a clear next step.
We assess your circumstances personally and involve the appropriate professionals for legal and tax questions.
Book your free initial consultation now