Ettlingen – September 14, 2026 -- German restructuring advisor Ulrich Kammerer of UKMC has outlined six concrete criteria executives can use within the first sixty minutes of a consultation to distinguish qualified crisis advisors from those offering false reassurance during liquidity emergencies.
Kammerer, who has personally overseen more than 400 insolvency and restructuring cases over the past decade and secured over €300 million in assets during those proceedings, warns that choosing the wrong advisor risks missed legal deadlines and personal liability for managing directors. He previously led an IT services company with roughly 700 employees through a protective shield procedure, emerging debt-free after eight months and one week.
A competent advisor asks about account balances before discussing revenue targets
In an acute liquidity crisis, the first question should concern current cash on hand, available credit lines, and how long invoices have gone unpaid. Kammerer flags overdue wage tax and social security contributions as particularly urgent, since they carry direct personal liability risk for company directors.
Serious advisors demand financial documents before issuing any proposal
Kammerer states that an advisor who makes a concrete offer without reviewing financial status, outstanding receivables, liabilities, business evaluations, or tax and health-insurance account records has skipped a step no reputable crisis assessment can bypass.
Statutory deadlines under German insolvency law leave no room for delay
Under Section 15a of the German Insolvency Code (InsO), liability-limited companies face a maximum three-week window to file for insolvency in cases of illiquidity, and six weeks in cases of over-indebtedness. Federal Court of Justice (BGH) case law under Section 17 InsO treats a liquidity gap of at least 10% that cannot be closed quickly as a strong indicator of illiquidity, while Section 19 InsO governs over-indebtedness assessments.
Personal liability exposure for managing directors must be addressed immediately
Section 15b InsO can create a personal repayment obligation for payments made after illiquidity or over-indebtedness has occurred. Unpaid employee social security contributions can trigger criminal liability under Section 266a of the German Criminal Code, while breached tax duties can result in personal liability under Sections 34 and 69 of the German Fiscal Code.
Fee structures tied to success can create dangerous incentives near insolvency
Kammerer cautions that success-based advisor fees close to insolvency can encourage delaying a required filing, and notes that advisor honoraria can later be scrutinized or contested during formal insolvency proceedings.
Effective advisors acknowledge the limits of their expertise and involve specialists
UKMC structures its restructuring mandates around interdisciplinary teams spanning legal, tax, and business-planning expertise, noting that existing tax advisors carry warning obligations under Section 102 of the German Corporate Stabilization and Restructuring Act (StaRUG) that make them relevant to crisis reviews.
Kammerer lists specific phrases that should trigger immediate scrutiny, including advisors who claim they "know the judge" or "know the insolvency administrator,