Our work is tailored to cooperation with the liquidator. To lighten their burden, we take care of routine work and offer qualified consultancy and support in all stages of the insolvency proceedings.
In this way, there is still room for creative and unconventional strategies to secure existing assets, satisfy the creditors’ claims as well as possible, keep the employees in their jobs and find ways to move forward, liquidate or restructure the company.
We make sure the accounting and controlling are handled efficiently and lay the foundations for restructuring the company and the business’s next financial moves.
Our specialists and employees have several years of experience in handling insolvency and are competent in providing tax and business-related consultancy to various industries.
We support you in the commercial and tax-related aspects as well as the human resources aspects of the insolvency proceedings. We aim to give the liquidator legal security regarding tax and to exclude liability during the process as much as possible.
Our range of services at PKS for consultancy on insolvency tax law for liquidators includes:
- handling accounting in accordance with commercial and tax law,
- preparing financial statements,
- preparing business tax returns,
- extensive consultancy services for optimising tax liability in relation to assets,
- preparing reports in accordance with insolvency tax and
- support in tax audits, VAT audits and redress procedures.
PKS takes care of the whole preparation of the accounts in accordance with insolvency law and all subsequent interim and final invoices on behalf of the liquidator. Through the use of software Winsolvenz P3 and Lexolution, we ensure a seamless transfer of data and information between liquidator, service provider and the courts. You don’t have to worry about adapting to new systems.
For the organisation and handling of the insolvency payments and payroll accounts, PKS services include:
- handling current accounting in accordance with insolvency law as per section 66 of the German Insolvency Code (Insolvenzordnung),
- preparing financial statements in accordance with insolvency law for the provisional insolvency proceedings pursuant to section 21 para. 2, no. 1 in conjunction with section 66 of the German Insolvency Code,
- preparing interim invoices in accordance with insolvency law pursuant to section 66, para. 3 of the German Insolvency Code and
- preparing final invoices in accordance with insolvency law on the basis of section 66, para. 1 of the German Insolvency Code.
Cash audit pursuant to section 69, p. 2 and section 58 of the German Insolvency Code
Cash audits at PKS are carried out by interdisciplinary teams. Our experts have not only extensive knowledge of insolvency proceedings but also comprehensive expertise in auditing. To ensure an efficient and effective cash audit, we focus on professional principles and auditing methodology when carrying out audits while also accounting for the particularities of the insolvency proceedings.
Final invoice audit and interim invoice audit
PKS’s services in this area include the following:
- Formal audit of accounting systems in accordance with insolvency law (checking, in particular, mathematical accuracy, complete records of transactions, documentation of transactions and organisation of records)
- Checking the materiality of the accounting systems in accordance with insolvency law (checking, in particular, deposits, valuations of assets and all outgoing payments)
- Audit of the remuneration application (checking, in particular, the basis of calculation pursuant to section 1 of the German Insolvency Law Remuneration Regulation, the regulation of remuneration pursuant to section 2 of the InsVV, the surcharges and discounts pursuant to section 3 of the InsVV, advance payments pursuant to section 9 of the InsVV and explanatory notes pursuant to section 8, para. 2 of the InsVV in conjunction with section 4, para. 1, p. 3 of the InsVV)
- Audit of special issues or individual cases of the insolvency court
Audit of certificates pursuant to section 270b of the German Insolvency Code
PKS advises insolvency courts in the context of requests to open a protective shield process in the examination of the certificates submitted. These consultancy services include:
- Assessment of the fundamental suitability of the certificator within the meaning of the German Insolvency Code
- Compliance with current standards and statements with regard to preparing a certificate pursuant to section 270b of the German Insolvency Code
- Checking the technical validity of a claim of insolvency and adjustments to the company’s financial source documents in random samples
- Assessment of the information about the debtor company’s restructuring opportunities based on its validity
Company valuation in the insolvency proceedings
A company valuation protects the liquidator against claims from creditors and serves as an indicator for an M&A process.