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

A company that was once under self-administration eventually goes back in. It's common.

Four years later or never. More dangerous are those whose insolvency history you don't know at all: because they had an external application that never proceeded to the opening and which they diverted in order to later cause a major bankruptcy. But such a person behaves differently.

Hello again, The feedback has kept me very busy lately, so here is an update only now: We ultimately terminated the contract or rather "forced" the general contractor to do so. Although we had clarified the payment terms to everyone's satisfaction, he failed to start construction (the only shell builder who would have done it under the given circumstances was significantly more expensive than planned). Luckily for us, because the place is now closed anyway - apparently, they had similar problems at several construction sites. And now we are not stuck with a half-finished shell that no one wants to continue building and that would then have to be demolished again or similar disasters. We are just back quite far at the beginning. The probable new general contractor is unfortunately quite a bit more expensive, but that was to be expected. On the other hand, he has a heart for insolvency victims and wants to fit us in between jobs. He has apparently done this several times before, our lawyer gave us that tip. And a casual acquaintance who now works for the competition and used to be in the building materials trade said that you can sign without worries there. I’m curious and will report (well, maybe. I’m not good at keeping blogs, diaries, etc. – as I already demonstrated ) Current status: waiting for the updated offer, meanwhile and afterward calculating carefully to avoid additional financing. That wouldn’t be a huge problem in principle, but it would be nicer without it. The original buffer certainly does not fully cover the extra costs (obviously, it was too cheap from the start and in addition there was a 10% price adjustment here in the region since the contract was signed). Numbers and considerations will follow in case anyone wants to think along.

Nice that I was right

Yes, great. Buy yourself something with it

That was not meant to be mean, just that he warned you. By the way, I see it the same way: if someone has gotten into trouble once, it usually happens again, the few companies that survive insolvency would have managed it anyway. Wishing you lots of strength and perseverance.

1. I told you so is never good style. Really never.
2. „I'm glad it went badly for you because I told you so and now want to harp on it“ is, as far as pigeonholing goes, even further down.
3. I didn’t ask about that afterwards and frankly I don’t care who would have quit in this situation. We deliberately didn’t do it.
4. In the same situation, I still wouldn’t quit. Since the announcement of the insolvency proceedings, absolutely nothing bad has happened. At least nothing worse than what a resignation would have brought us. Not quitting obviously carried a certain risk (manageable, since GÜ instead of GU and subcontractors have an interest to complete the contract…) but also the chance that everything could have turned out well.