Bankruptcy: “The majority of bankruptcies are still to come”
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More companies are currently going bankrupt than in a long time. One of the most experienced insolvency administrators explains the situation – and what he does to get a business running again.
© Peter Kneffel/dpa
Trucking companies, hospitals, construction companies: 1,297 bankruptcies were filed in March. Loud Leibniz Institute for Economic Research in Halle this is the highest level in years. Is this a sign of the deindustrialization of the country or a necessary market shakeout? Michael Pluta has been a specialist lawyer in insolvency law for over 40 years and is the founder of one of the largest insolvency law firms in the country. He brought companies like Märklin and the ship travel provider Nicko Cruises through bankruptcy.
TIME ONLINE: Mr. Pluta, there were so many in March bankruptcies
like it hasn’t been for years – what’s going on in the German economy right now?
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