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Debtor in possession, protective shield, StaRUG

Licensing company data during restructuring

In a restructuring, every euro of liquidity counts. Historical emails, tickets, ERP and CRM data can be licensed as an anonymised copy without changing anything in day-to-day operations. The company keeps its data and carries on as usual.

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At a glance

  • Data realisation brings additional liquidity without selling operating assets or changing processes.
  • In debtor-in-possession, protective shield and StaRUG proceedings, management itself decides on the licensing.
  • What is licensed is an anonymised copy of historical data; current prices, designs and customer lists remain excluded.
  • Payment is made as a one-off sum or as an upfront payment with a share of revenue from further licences.

How does data realisation help in a restructuring?

It brings liquidity from an asset that the business generates anyway and that would otherwise remain unused.

Unlike selling equipment or parts of the business, the company gives up nothing it needs for operations. What is licensed is an anonymised copy of historical emails, tickets, ERP and CRM records. Specialised buyers work quickly: Ooak Data quotes two to four weeks until payment,[1] and Turing usually reviews a sample within a week and pays once.[2] Replay pays a share of every further licence in addition to the upfront payment.[3]

Who decides in debtor in possession, protective shield and StaRUG?

In all three cases management. No insolvency administrator takes over the company.

Restructuring routes in Germany and who decides on the data realisation
ProcedureWho decidesParticular feature
Debtor in possession (Eigenverwaltung)[4]Management, under the supervision of a custodianInsolvency proceedings without an insolvency administrator (§ 270 InsO)
Protective shield proceedings[5]Management, under the supervision of a custodianIn case of imminent illiquidity or over-indebtedness; insolvency plan within at most three months (§ 270d InsO)
StaRUG[6]ManagementOut-of-court restructuring in case of imminent illiquidity (§ 29 StaRUG)
Informal restructuringManagementWithout court proceedings

In regular insolvency proceedings with an insolvency administrator, different rules apply. See the page Selling company data from insolvency proceedings.

What is licensed, and what stays in-house?

Historical workflows are licensed. Everything that gives the company a competitive advantage today stays out.

  • Licensed: completed cases from email, tickets, ERP, CRM and projects, anonymised and without company names.
  • Excluded: current prices and calculations, ongoing designs, customer lists, personnel files and health data.
  • Personal data are anonymised before the handover; anonymised data are outside the scope of the GDPR.[7]

How does the licensing work?

In four steps, alongside ongoing operations.

  1. 1

    Initial call and estimate

    You answer nine questions on industry, software, data volume and history, or talk to us directly. We do not need access to the data for this and give you a first estimate.

  2. 2

    Data sheet and buyer search

    We describe the dataset without names, agree the data sheet with you and approach vetted buyers. Company and proceedings remain confidential.

  3. 3

    Fee and anonymisation

    As soon as a buyer has been found, we agree a success-based fee. Under a data processing agreement we anonymise the dataset locally at the seller; the buyer receives a sample under NDA.

  4. 4

    Licence and handover

    You approve the buyer, we hand over the anonymised data and then delete the mapping.

Frequently asked questions

Can company data be sold without disrupting operations?

Yes. What is licensed is an anonymised copy of historical data. The company keeps working with its originals; systems and processes remain unchanged.

Does the company keep its data?

Yes. It grants a licence to use an anonymised copy, not a transfer of the originals. Several buyers expressly state that companies remain the owners of their data.

Does this also work in StaRUG proceedings or in debtor-in-possession proceedings?

Yes. In both cases, management continues to run the company and decides on the realisation itself; in debtor-in-possession proceedings under the supervision of a custodian (Sachwalter).

How quickly does money come in?

With specialised buyers, sometimes within a few weeks: Ooak Data quotes two to four weeks, and Turing usually reviews a sample within a week. The time for the buyer search comes on top.

Will trade secrets end up with competitors?

No. Current prices, designs, customer lists and other competitively relevant content are excluded, and company names and people are anonymised. What is licensed are historical workflows.

Sources

  1. [1]Ooak Data: “Partner with us”, accessed 20 October 2026
  2. [2]Turing: “Project Lazarus”, accessed 20 October 2026
  3. [3]Replay: “Value my data”, accessed 20 October 2026
  4. [4]Federal Ministry of Justice (Germany): “§ 270 InsO, debtor-in-possession proceedings”
  5. [5]Federal Ministry of Justice (Germany): “§ 270d InsO, preparation of a restructuring (protective shield proceedings)”
  6. [6]Federal Ministry of Justice (Germany): “§ 29 StaRUG, stabilisation and restructuring framework”
  7. [7]EUR-Lex: “Regulation (EU) 2016/679 (General Data Protection Regulation)”

This overview is no substitute for legal advice in the individual case.

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