Insolvency law covers a number of areas which i.a. are governed by the Danish Insolvency Act, which contains rules in relation to suspension of payments, bankruptcy, arrangement with creditors and debt restructuring.
Insolvency law is closely related to the restructuring of debtors who have encountered finan-cial problems.
Restructuring can take place in many different ways and does not necessarily imply applica-tion of the Danish Insolvency Act. This is for instance the case if it is possible to enter into a voluntary arrangement with creditors.
If this is not possible, it may be possible to find a solution by using the provisions of the Dan-ish Insolvency Act which all involve the bankruptcy court.
This requires that debtor is insolvent, i.e. that you are unable to fulfil your obligations when they are due and furthermore that you will not be able to do so in the foreseeable future.