What to do if your commercial freight forwarder becomes insolvent?
We at Deutsche Pfandverwertung will show you how to quickly free up blocked storage space, how to strategically enforce your legal pledge of rights — and how to act in a legally compliant and economical manner in order to realize your outstanding claims as quickly as possible
Find out more below — we provide you with plain language, practical experience and certainty.
🎯 O ur expertise — your advantage:
As publicly appointed, sworn auctioneers and certified reorganization and restructuring consultants, we are just as familiar with the Insolvency Code as we are with its practical implementation by insolvency administrators.
Our aim is to keep your losses as low as possible — and to ensure that you receive what you are entitled to.
📌 Initial situation:
Your client is insolvent. The goods are in your warehouse — your space is blocked, payments are not being made.
Now it’s time to act calmly but consistently.
🧭 Your legal compass — step by step:
- Contacting the (provisional) insolvency administrator
As soon as you find out about the insolvency, contact the provisional insolvency administrator immediately. This is now your main point of contact — no longer your debtor. The insolvency court will later appoint the final administrator. - Asserting your right of lien — what this means exactly
If you take possession of goods as a freight forwarder or warehouse keeper, you automatically have a legal pledge of rights — without havingto expressly notify us.
That means:
- The pledge of rights arises by law as soon as you are in possession of the goods -in accordance with §§ 464 or 475 b HGB.
- A notification to the debtor or insolvency administrator is notrequired.
- The so-called “assertion” only serves the purpose of clarification in the event of a dispute or in communication — it is not a prerequisite for the right to arise.
- The decisive factor for your legal position is thatpossession of the goods must have been transferred at least four weeks before the opening of insolvency proceedings .
➡️ This automatically secures you a right to separate satisfaction in accordance with Section 50 InsO — you may be satisfied preferentially from the proceeds of the pledged goods.
❗ Important:
In practice, insolvency administrators occasionally try to unsettle creditors — with the argument that the pledge of rights was “not asserted in good time”. This is incorrect.
A statutory pledge of rights does not have to be registered, notified or declared. It arises by operation of law.
This makes it clear:
If you had the goods in your possession in good time — i.e. four weeks before the debtor’s insolvency — as is usually the case in practice, your pledge of rights already exists — with all the benefits of the resulting security and exploitation rights.
- Exploitation right — Who may exploit?
In principle, the insolvency administrator has the right of realization (Section 166 InsO). The administrator can use the proceeds to settle your claim — albeit less flat-rate liquidation and assessment costs of up to 9% of the proceeds (plus VAT). They can also commission third parties to do this. These costs also reduce the liquidation proceeds. The insolvency administrator can realize the assets on the open market at any price he negotiates. Quite a few insolvency administrators also have legally independent liquidation companies that are related to the administrator. As in any commercially oriented business, the same applies here: Profit lies in purchasing. If the administrator does not have specific experience with sensitive assets or uses their own liquidation company, this can quickly lead to a conflict of interest.
Important note:
As a creditor with a statutory pledge of rights, you enjoy special protection. The insolvency administrator is not authorized to sell the inventory below market value without further ado just to enable a quick restructuring. Such a step would be a clear breach of his duty to realize the best possible value for the benefit of all creditors.
The clean and legally compliant solution:
Appointment of a publicly appointed, sworn auctioneer.
Under certain circumstances, however, you have the right to have your own assets realized, for example if:
- you have already acquired the pledge of rights one month before filing for insolvency through possession of the goods (§ 88 InsO),
- you are still in possession of the goods (directly or indirectly), and
- the administrator has not obtained possession.
- Your strong position as a pledgee
As a rule, your statutory pledge of rights cannot be contested if it has arisen congruently — i.e. if it was established as part of a regular transaction and not specifically to secure older claims in the knowledge of impending insolvency. - Your rights in the case of valuable, perishable or seasonal goods
If the goods are subject to a high rate of depreciation — such as seasonal items, machines, IT components or vehicles — you should insist on a speedy recovery.
In such cases, commissioning a publicly appointed auctioneer is often the economically and legally wiser solution:
- Fast market access
- Mostly higher revenues through targeted buyer approach
- No conflicts of interest as with internal collecting societies of the insolvency administrator
- Transparency vis-à-vis the court and the creditors’ meeting
📝 Tip: If the administrator refuses external realization, you can apply to the insolvency court for realization by an independent auctioneer — especially in the case of value-critical goods.
Realistic assessment of the balance of power
A realistic assessment of the situation between you as a creditor and the insolvency administrator is crucial in order to assert your rights effectively and to recognize possible scope for action at an early stage.
If your commercial freight debtor is insolvent, you and the insolvency administrator have fundamentally different interests:
- The administrator primarily wants to restructure the company, sell it on to investors or — if that fails — wind it up in an orderly manner.
- You, on the other hand, want to limit your losses and realize outstanding claims.
It is important to know:
Only around 10 % of restructured companies are still on the market after five years.
The success rate is therefore significantly lower than is often portrayed in the process.
In addition:
The insolvency administrator is also assessed by the insolvency court according to how many restructurings he successfully implements.
Whether and how often he is entrusted with new proceedings by the court sometimes depends on this .
This means that even where a restructuring may be economically questionable, it is often pursued anyway — not in the interests of the creditors, but out of the administrator’s own systemic self-interest.
Insolvency is an exceptional case for you — a daily routine for the administrator.
He knows the legal levers and knows how to leverage your strong legal position.
Insolvency administrators are among the most powerful players in German procedural law.
They act with authority — sometimes like little kings in a system full of rules that they master perfectly.
But don’t let this impress you.
A confident appearance is no substitute for a legal basis — and that’s exactly what you have.
Because: Your position as a pledgee is strong — if you know it and use it consistently.
Remain objective. Invoke your legal pledge of rights. And yes — get uncomfortable if you have to.
Because: It’s not about cooperation. It’s about your money.
It is also important to strategically end storage relationships.
Make it clear to the insolvency administrator that you do not wish to continue the storage contract — especially not with a potential buyer from the same industry.
This will prevent you from being involved in restructuring attempts, which experience has shown rarely prove to be sustainable in the long term.
✅ Classify receivables correctly:
- Claims prior to filing for insolvency: File for insolvency — simple insolvency claim.
- Claims after the application: liabilities of the estate — to be serviced with priority.
🎯 O ur conclusion:
The insolvency of a commercial freight customer is a challenge — but no reason to give up. With the right information, a clear strategy and legal precision, you can secure your position as a creditor.
Our timetable for you:
- Act quickly: Contact the insolvency administrator at an early stage.
- Securing rights: asserting and enforcing a pledge of rights.
- Have your property sold professionally: commission a publicly appointed, sworn auctioneer.
- Legal protection: Clear communication, no rash steps.
- Use our support: Talk to us — we can help with sample letters, legally compliant procedures and recovery strategies.
📢 In conclusion:
Don’t be impressed — neither by the appearance nor the title of an insolvency administrator. Remain calm, objective and consistent. It’s about your money — and your rights.
Contact us — together for a successful result!
Further articles on the topic
Speditionspfandrecht: die effektive Lösung! Versteigerer verwerten bestmöglich in Online-Auktion
Pledge of rights — everything you need to know explained. A pledge of rights can relate to things, i.e. physical objects, as well as to rights of any kind, such as company shares, patents, securities, IP rights, domains, licenses or trademark rights.
