In the course of this work, the liability risks to which a reorganization consultant is exposed during reorganization consulting are examined. The focus of the present study is on German medium-sized companies and disregards the legal regulations for corporate groups.
In order to answer the research question "what liability risks does a reorganization consultant expose himself to in the course of a reorganization consultation", the reorganization environment is first explained in detail and the resulting tasks of a consultant are derived. Subsequently, the legislation, primarily the German Civil Code (BGB), the German Commercial Code (HGB) and the German Insolvency Code (InsO), is analysed and relevant case laws are examined and interpreted in the context of the work.
During the examination of the possible liability of the consultant, any potential insolvency challenges against him because of already collected fee claims or because of funds passed on to outside third parties must also be considered. The principles and limits of the liability of restructuring consultants based on case law are presented and explained in this paper.
In addition to the company management, liability risks can also arise for restructuring consultants in the crisis of the company being advised. The obligation to file for insolvency plays a major role here. If the reorganization consultant concludes that there is a reason for filing for insolvency, the corporate representatives must be informed of the legal obligation to file for insolvency.
Inhaltsverzeichnis (Table of Contents)
- Introduction
- Advice in restructuring
- Corporate restructuring
- The role of the adviser
- Risks and liability
- Scope of duties and basis of claims
- Claims of the client/debtor and third parties
- Countervailability of the consultancy fee
- Results
Zielsetzung und Themenschwerpunkte (Objectives and Key Themes)
This study explores the liability risks faced by restructuring consultants during the process of advising companies in crisis situations. The main focus is on German medium-sized companies, excluding legal regulations for corporate groups. The research question seeks to understand the specific liability risks consultants expose themselves to when providing reorganization advice.
- The legal framework surrounding restructuring and insolvency in Germany
- The duties and responsibilities of restructuring consultants
- Potential liability claims from clients, creditors, and third parties
- The impact of consultancy fees and their countervailability on liability
- The principles and limits of liability for restructuring consultants based on case law
Zusammenfassung der Kapitel (Chapter Summaries)
- Introduction: The chapter introduces the topic of liability risks for restructuring consultants, highlighting the importance of the obligation to file for insolvency when necessary. It outlines the focus of the study on German medium-sized companies and explains the research question.
- Advice in Restructuring: This chapter delves into the concept of corporate restructuring, defining it as the collective term for measures aimed at restoring profitability and ensuring a company's survival. It discusses various types of restructuring, including accounting reorganization, inflow of new financial resources, changes in borrowed capital, and changes in the legal form of the company.
- Risks and Liability: This section focuses on the specific liability risks faced by restructuring consultants. It examines the scope of their duties, the basis for potential claims from clients, creditors, and third parties, and the issue of countervailability of consultancy fees.
Schlüsselwörter (Keywords)
This work focuses on the liability of restructuring consultants, specifically within the context of German insolvency law. Key themes include corporate restructuring, insolvency proceedings, scope of duties, liability claims, countervailability of fees, case law analysis, and the legal framework surrounding the German Commercial Code (HGB) and Insolvency Code (InsO).
- Quote paper
- Felix-Sebastian Ament (Author), 2020, The Liability of the Management Consultant in Restructuring. Corporate Restructuring, Munich, GRIN Verlag, https://www.grin.com/document/943429
