Regelinsolvenz (regular insolvency)

Regelinsolvenz is the classic German insolvency route under §§ 11 et seq. InsO. The court appoints an insolvency administrator who takes possession of the entire debtor's estate, administers and monetises it. Management loses disposal rights.

The goal is the best possible realisation of the estate in the interest of creditors. The administrator can continue the business, sell individual assets or break it up — whatever is economically most sensible.

For buyers, Regelinsolvenz is the most common deal environment: asset deals with the administrator as counterpart. Negotiation style is formal, data-driven and auction-like — the administrator has the statutory mandate to select the best offer.