Supervision
Corporate reorganisations carried out via self-administration or protective shield proceedings do not have an insolvency administrator. Instead, they have a supervisor (Sachwalter). The supervisor is a vital intermediary between the debtor company and its reorganisation advisor on the one hand and the company’s creditors on the other. He plays a key role in ensuring that a reorganisation implemented autonomously by the company goes smoothly. The supervisor is appointed by the insolvency court, and can be proposed by the company. As an independent person, the supervisor’s job is to monitor the proceedings, keep in mind the interests of the parties to the proceedings and reconcile those interests with one another. Put simply, the role of the supervisor is to oversee the proceedings.
Expertise
Supervision requires insolvency expertise
For companies in financial difficulty, Schultze & Braun provides support not just as insolvency advisor or chief restructuring officer (CRO) in self-administration or protective shield proceedings. We also take on the role of a (provisional) supervisor. Our reorganisation experts are experienced in insolvency and work with a company’s management and CRO throughout the reorganisation process. With extensive expertise and experience, they build trust and ensure compliance with insolvency law – especially in that vital phase when a company continues to trade during insolvency.
First and foremost, Schultze & Braun’s supervisors ensure that the rights of creditors are protected throughout the corporate reorganisation process. It is possible that the interests of the company and those of the creditors do not coincide or coincide only partially. Reorganisation against the wishes of creditors is not possible – but nor is it possible without the debtor company. This means that the supervisor plays an important and sensitive role involving mediation between all involved in the reorganisation process.
Independent supervisory team as facilitators
As an independent party, our supervisors ensure that creditors are not disadvantaged. Schultze & Braun’s supervisory team also examines the company’s financial position and coordinates on important issues with the management and reorganisation advisors, the insolvency court and the creditors’ committee. With the aim of achieving the reorganisation objective and ensuring the best possible satisfaction for creditors in mind, our supervisors help the company through important milestones in the process, such as preparing an insolvency plan or seeking investors.
In self-administration or protective shield proceedings, the insolvency plan is frequently the reorganisation tool of choice. In those cases, the creditors must approve the reorganisation scheme with both a per capita majority and a majority by amount of claims. This means that over 50% of the creditors within a group need to give the reorganisation the green light. In addition, the assenting creditors must represent more than half of the accepted insolvency claims.
In order to achieve this result, it is important for a company in self-administration, but also for the supervisor, to understand the various interests at play and to mediate between the parties where necessary – always with the aim of reaching a solution that the majority of creditors can approve.
The experience we have gained over around 50 years as restructuring and reorganisation specialists and insolvency administrators helps us achieve this.
Contact persons

Rüdiger Bauch
Rechtsanwalt (Attorney at Law in Germany)
Fachanwalt für Insolvenz- und Sanierungsrecht (Certified Specialist in Insolvency and Reorganisation Law)
+49 (0)341 26972-0

Elke Bäuerle
Rechtsanwältin (Attorney at law in Germany)
Fachanwältin für Insolvenz- und Sanierungsrecht (Certified Specialist in Insolvency and Reorganisation Law)
+49 (0)741 17464-30

Holger Blümle
Rechtsanwalt (Attorney at Law in Germany)
Fachanwalt für Insolvenz- und Sanierungsrecht (Certified Specialist in Insolvency and Reorganisation Law)
Dipl.-Betriebswirt (BA) (certified business accountant)
Wirtschaftsmediator (IHK) (Business mediator, Chamber of Commerce)
+49 (0)721 91957-0

Volker Böhm
Rechtsanwalt (Attorney at Law in Germany)
Fachanwalt für Insolvenz- und Sanierungsrecht (Certified Specialist in Insolvency and Reorganisation Law)
+49 (0)911 60079-0
![[Translate to Englisch:] Stefano Buck [Translate to Englisch:] Stefano Buck](/fileadmin/_processed_/7/6/csm_sb-hs-buck-stefano-2023-10-02-2658a_aae08da043.jpg)
Stefano Buck
Rechtsanwalt (Attorney at Law in Germany)
Fachanwalt für Insolvenzrecht (Certified Specialist in Insolvency Law)
+49 (0)7841 708-321

Ralph Bünning
Rechtsanwalt (Attorney at Law in Germany)
Fachanwalt für Insolvenz- und Sanierungsrecht (Certified Specialist in Insolvency and Reorganisation Law)
+49 (0)421 3686-589

Harald Bußhardt
Rechtsanwalt (Attorney at Law in Germany)
Fachanwalt für Insolvenzrecht (Certified Specialist in Insolvency Law)
+49 (0)351 88527-0

Dr. Thomas Dithmar
Rechtsanwalt (Attorney at Law in Germany)
Fachanwalt für Insolvenz- und Sanierungsrecht (Certified Specialist in Insolvency and Reorganisation Law)
Fachanwalt für Steuerrecht (Certified Specialist in Tax Law)
+49 (0)361 5513-0

Alrun Ehmann
Rechtsanwältin (Attorney at law in Germany)
Fachanwältin für Insolvenz- und Sanierungsrecht (Certified Specialist in Insolvency and Reorganisation Law)
+49 (0)911 60079-120
![[Translate to Englisch:] Dr. Jürgen Erbe, MBA [Translate to Englisch:] Dr. Jürgen Erbe, MBA](/fileadmin/_processed_/e/a/csm_sb-hs-dr-erbe-juergen-2023-07-02-23125a_08e11fcc38.jpg)
Dr. Jürgen Erbe, MBA
Rechtsanwalt (Attorney at Law in Germany)
Fachanwalt für Insolvenz- und Sanierungsrecht (Certified Specialist in Insolvency and Reorganisation Law)
+49 (0)621 480264-0

Dr. Elske Fehl-Weileder
Rechtsanwältin (Attorney at law in Germany)
Fachanwältin für Insolvenz- und Sanierungsrecht (Certified Specialist in Insolvency and Reorganisation Law)
+49 (0)911 60079-121
![[Translate to Englisch:] Edgar Grönda [Translate to Englisch:] Edgar Grönda](/fileadmin/_processed_/b/e/csm_sb-hs-groenda-edgar-2023-08-03-1902a_745dcf12ff.jpg)
Edgar Grönda
Rechtsanwalt (Attorney at Law in Germany)
Fachanwalt für Insolvenz- und Sanierungsrecht (Certified Specialist in Insolvency and Reorganisation Law)
Fachanwalt für Steuerrecht (Certified Specialist in Tax Law)
+49 (0)421 3686-589
![[Translate to Englisch:] Dr. Dietmar Haffa [Translate to Englisch:] Dr. Dietmar Haffa](/fileadmin/_processed_/b/d/csm_sb-hs-dr-haffa-dietmar-2023-10-02-3457a_edcd8d87c4.jpg)
Dr. Dietmar Haffa
Rechtsanwalt (Attorney at Law in Germany)
Dipl.-Betriebswirt (BA) (certified business accountant)
Fachanwalt für Insolvenz- und Sanierungsrecht (Certified Specialist in Insolvency and Reorganisation Law)
+49 (0)711 23889-0

Dr. Dirk Herzig
Rechtsanwalt (Attorney at Law in Germany)
Fachanwalt für Insolvenz- und Sanierungsrecht (Certified Specialist in Insolvency and Reorganisation Law)
+49 (0)371 38237-0

Tobias Hirte
Rechtsanwalt (Attorney at Law in Germany)
Fachanwalt für Insolvenz- und Sanierungsrecht (Certified Specialist in Insolvency and Reorganisation Law)
+49(0)721919570
![[Translate to Englisch:] Harald Kroth [Translate to Englisch:] Harald Kroth](/fileadmin/_processed_/0/6/csm_sb-hs-kroth-harald-2023-08-02-25687a_32f55a232f.jpg)
Harald Kroth
Rechtsanwalt (Attorney at Law in Germany)
Fachanwalt für Insolvenzrecht (Certified Specialist in Insolvency Law)
+49 (0)7841 708-321

Stefan Ludwig
Rechtsanwalt (Attorney at Law in Germany)
Fachanwalt für Insolvenz- und Sanierungsrecht (Certified Specialist in Insolvency and Reorganisation Law)
+49 (0)30 3083038-200
![[Translate to Englisch:] Dr. Dirk Pehl [Translate to Englisch:] Dr. Dirk Pehl](/fileadmin/_processed_/f/a/csm_sb-hs-dr-pehl-dirk-2023-08-02-25541a-01_98b5276ad3.jpg)
Dr. Dirk Pehl
Rechtsanwalt (Attorney at Law in Germany)
Fachanwalt für Insolvenz- und Sanierungsrecht (Certified Specialist in Insolvency and Reorganisation Law)
+49 (0)7841 708-311

Frank Schmitt
Rechtsanwalt (Attorney at Law in Germany)
Fachanwalt für Insolvenz- und Sanierungsrecht (Certified Specialist in Insolvency and Reorganisation Law)
+49 (0)69 50986-155