When a company goes bankrupt, the trustee in bankruptcy uses its assets to pay creditors. The trustee blocks the accounts, sells equipment or machinery and collects any debts, and then pays the company's outstanding debts. But the order in which creditors are paid is not arbitrary. For this, the trustee in bankruptcy applies a legally strict order. Some creditors are therefore more likely to be paid (in full) than others. The decisive factor is whether a creditor is preferential or ordinary.

A customer goes bankrupt and you are at a loss what to do. What do you do now? Can you hold the directors or managers personally liable for the outstanding invoices? Sometimes you can, sometimes you cannot. Much depends on the type of company that goes bankrupt. Find out how things work here.

Every entrepreneur encounters it sooner or later: you send an invoice and only afterwards you realise that you have made a mistake or that something needs to be changed. Enter: the credit note! Because you can't just modify your invoice and send it out again. And you certainly can't delete them from your accounts. You have to draw up a credit note and send it to your customer. We explain briefly what a credit note is, when you should send one and how you should draw it up.