Forum 270 publishes principles for self-administered insolvency proceedings
Berlin, 11.12.2018. Forum 270 - Qualität und Verantwortung in der Eigenverwaltung e. V. today published its principles for insolvency proceedings in self-administration (sections 270 et seq. InsO). The principles contain essential requirements for the proper conduct of self-administration proceedings in Germany.
Forum 270 - Qualität und Verantwortung in der Eigenverwaltung e. V. was founded in spring 2017 to contribute to the sustainable success of self-administration. A major objective of the association was the development of a common standard as well as guidelines for the initiation and successful conduct of insolvency proceedings in self-administration.
'We have set up Forum 270 in order to give self-administration in Germany a voice and to protect the restructuring instrument from improper legal application', says Thomas Oberle, member of the association's executive board.
'With the development of the principles, we are now presenting a standard which we are convinced must be observed in order to safeguard the purpose of the proceedings and in the interest of the best possible outcome of the proceedings. This will contain or even eliminate any grievances revealed by the ESUG evaluation. In this way, the standard sustainably strengthens self-administration' Thomas Oberle
The subject of the standard, which incorporates the many years of practical experience of all members from restructuring consulting and insolvency administration, are regulations for the prerequisites, organization, procedure and costs of self-administration proceedings as well as the criteria for the person of the self-administrator and the cover pool administrator. In developing the standard, the results of an expert discussion with representatives of the BDU, DAV, NIVD, TMA and VID, insolvency courts, academia, trade unions, creditors from financing, credit insurers and the Federal Employment Agency were taken into account.
Forum 270 strengthens Executive Board
With the adoption of the Principles for Insolvency Proceedings in Self-Administration, Forum 270 has expanded the Management Board by Thomas Oberle, Dr. Georg Bernsau and Andreas Elsässer by two additional members. Dr. Stefan Weniger and Silvio Höfer were unanimously elected to the Management Board. In particular, their task will be to strengthen Forum 270's public relations work and above all make the standard accessible to all relevant target groups.
'The principles that are now available are of central importance for the quality and responsibility in self-administrations. It is our aim to make them known throughout the industry and to establish them as a generally valid standard in Germany', says board member Weniger, who was also a member of the working group responsible for drawing up the principles.
About Forum 270 - Qualität und Verantwortung in der Eigenverwaltung e. V.
On March 1, 2012, the Law on Further Facilitation of Corporate Restructuring (ESUG) came into force. The legislator's aim was to make it easier for companies to access their own administration, thereby promoting early and timely insolvency applications and ultimately increasing the chances of restructuring. The years with ESUG and not least the ESUG evaluation of the BMJV have shown that self-administrations are of a complex nature and require comprehensive restructuring and insolvency law know-how, quality and, last but not least, responsible interaction between all parties involved.
Forum 270 - Qualität und Verantwortung in der Eigenverwaltung e. V. was founded in spring 2017 to contribute to the sustainable success of self-administration by formulating principles, stimulating discussion with all participants and thus giving self-administration a voice.
The members of Forum 270: Dr. Dirk Andres (AndresPartner), Dr. Georg Bernsau (BBL), Dr. Thorsten Bieg (GÖRG), Andreas Elsässer (Elsässer Restrukturierung), Silvio Höfer (anchor), Dr. Gerrit Hölzle (GÖRG), Dr. Alexander Höpfner (BBL), Marc-Philippe Hornung (SZA), Burkhard Jung (Restrukturierungspartner), Thomas Oberle (SZA), Alexander Reus (anchor), Dr. Stefan Weniger (Restrukturierungspartner), Marcus Winkler (BBL)