Insolvenz-verfahren

[ciphergoth]

Apparently "insolvenz-verfahren" is the German equivalent of Chapter 11. Anyone know what that is? As you might imagine, it's not so easy to do a search on...

Comments

links

[ajva.livejournal.com]

This gives a basic intro to Chapter 11, and here is the code in full. you might also find a couple of useful pointers here.

A. x

Re: links

[ajva.livejournal.com]

And a bit more about the actual German one...

Re: links

[ciphergoth.livejournal.com]

Wow, thanks! that second one, in particular, is incredibly helpful!

So basically, contrary to what I had been told, the company is still trading and I'm still employed, is that right?

[purplerabbits.livejournal.com]

Perhaps you should ask them? When HArlequin went under you got lots of help and info, so they ought to be able to provide something...

[ciphergoth.livejournal.com]

I shall.

Re: links

[random-goblin.livejournal.com]

Viatel, a company I used to work for filed chapter 11 earlier this year, the staff that were still working were thinned down drastically, but those that actually did something useful, and had real talent, are part of a skeleton crew running things, some 7 months on [it was telecoms so very few people WERE useful].
As far as I understand it, Chapter 11 in itself isn't bankruptcy and there are some big companies that have actually come out of Chapter 11 and become profitable again. That said, most of them don't recover and do become bankrupt, so definitely worth looking for a lifeboat...