GÜ insolvent - and now? (Payment plan etc.)

I have worked in the insolvency industry and will give you a brief piece of advice:

terminate

Continuing the contract is grossly negligent and, in my opinion, stupid

Can running contracts be changed?

Not really, but you can always have a friendly conversation. The construction company obviously has a liquidity problem, so I would act differently just to be safe than in clear weather. Always hold the money together nicely – what the construction company has once doesn't come back.

Either terminate or conclude an additional agreement with him such as payment only after service delivery. For example, structural work up to the ground floor ceiling is completed and a partial payment is made for the service. It would be a win-win for both parties. He keeps the contract and you have security. If he does not agree to this, terminate.

If it is a vob contract, it grants a special right of termination in the event of insolvency

I just hope that he continues to pay his craftsmen so that your construction can proceed.

This could be secured by agreeing with the general contractor to pay the craftsmen directly (à compte from the payment schedule), i.e. to transfer only his margin to him from the respective installments and pay the costs directly to the invoicers.

Insolvency pay exists, but for employees, not for subcontractors.

I have worked in the insolvency sector and will give you a brief piece of advice: resign

I would have also advised that if an insolvency administrator had been appointed. But here self-administration was allowed.

Certainly, naivety would be out of place no matter how honest the guy is, but fear as well. Unfortunately, insolvency administrators have a financial interest in being more undertakers than healers. They get paid just as well for an administration as for a liquidation; a rescue means losing clients for them without a success bonus (because there is none) to compensate. As sad as that is, it makes clear what is better for them personally. Among lawyers there are altruists and Porsche orderers; unfortunately, the latter specialize in insolvency law more often.

The trustee in insolvency proceedings with self-administration usually does not get rich. He only earns money with little work.

The problem with self-administration is usually that the mistakes of the past are only removed from the books for a short time and reappear shortly thereafter, while the entrepreneur indulges in the new Porsche. A company that was once under self-administration eventually goes back in. It is common.

The risk would be too great for me