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Insolvency Statute

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▄bersetzung durch Ute Reusch

Translation provided by Ute Reusch

Stand: Die ▄bersetzung berŘcksichtigt die ─nderung(en) des Gesetzes durch Artikel 19 des Gesetzes vom 20. Dezember 2011 (BGBl. I S. 2854) und die mittelbare ─nderung durch Artikel 18 des Gesetzes vom 20. Dezember 2011 (BGBl. I S. 2854)
Der Stand der deutschsprachigen Dokumentation kann aktueller sein. Vergleichen Sie dazu bitte http://www.gesetze-im-internet.de/inso/BJNR286600994.html.

Version information: The translation includes the amendment(s) to the Act by Article 19 of the Act of 20 December 2011 (Federal Law Gazette I p. 2854) and the indirect amendment to the Act by Article 18 of the Act of 20 December 2011 (Federal Law Gazette I p. 2854)
Translations may not be updated at the same time as the German legal provisions displayed on this website. To compare with the current status of the German version, see http://www.gesetze-im-internet.de/inso/BJNR286600994.html.

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Part One
General Provisions
Sectioná1Objectives of the Insolvency Proceedings
Sectioná2Jurisdiction of the Local Court as Insolvency Court
Sectioná3Local Jurisdiction
Sectioná4Applicability of the Code of Civil Procedure (Zivilprozessordnung)
Sectioná4aDeferment of the Costs of the Insolvency Proceedings
Sectioná4bRepayment and Adjustment of Deferred Amounts
Sectioná4cRescission of Deferment
Sectioná4dLegal Recourse
Sectioná5Principles of the Insolvency Proceedings
Sectioná6Immediate Appeal
Sectioná10Hearing of the Debtor
Part Two
Opening of the Insolvency Proceedings.
Involved Assets and Parties
Chapter One
Prerequisites of Opening and Opening Proceedings
Sectioná11Admissibility of Insolvency Proceedings
Sectioná12Legal Persons under Public Law
Sectioná13Request to Open Insolvency Proceedings
Sectioná14Request by the Creditor
Sectioná15Right of Request in the Case of Legal Persons and Associations Without Legal Personality
Sectioná15aObligation to Request in the Case of Legal Persons and Associations Without Legal Personality
Sectioná16Reason to Open Insolvency Proceedings
Sectioná18Imminent Insolvency
Sectioná20Obligation of Disclosure and Cooperation During the Opening Proceedings. Reference to Discharge of Residual Debt
Sectioná21Decisions Ordering Provisional Measures
Sectioná22Legal Status of the Provisional Insolvency Administrator
Section 22aAppointment of a Provisional Creditors' Committee
Sectioná23Publication of Restriction on Property Transfers
Sectioná24Effects of Restrictions on Property Transfers
Sectioná25Repeal of Preservation Measures
Sectioná26Refusal for Insufficiency of Assets
Section 26aProvisional Insolvency Administrator's Remuneration
Sectioná27Order Opening the Insolvency Proceedings
Sectioná28Requirements Incumbent on the Creditors and Debtors
Sectioná29Docketing of Meetings
Sectioná30Publication of the Order Opening the Insolvency Proceedings
Sectioná31Commercial Register, Register of Cooperatives, Register of Partnerships and Register of Associations
Sectioná32Land Register
Sectioná33Ship/Aircraft Register
Chapter Two
Insolvency Estate.
Classification of Creditors
Sectioná35Definition of the Insolvency Estate
Sectioná36Objects not Subject to Attachment
Sectioná37Joint Marital Property of a Community
Sectioná38Definition of the Insolvency Creditors
Sectioná39Lower-ranking Insolvency Creditors
Sectioná40Claims to Maintenance
Sectioná41Immature Claims
Sectioná42Claims Subject to a Resolutory Condition
Sectioná43Liability Incumbent on Several Persons
Sectioná44Rights of Obligors Liable Jointly
Sectioná44aSecured Loans
Sectioná45Conversion of Claims
Sectioná46Recurring Payments
Sectioná47Right to Separation
Sectioná48Right to Separation Extending to the Consideration Received as a Substitute for the Object of Separation
Sectioná49Separate Satisfaction from Immovables
Sectioná50Separate Satisfaction of Pledgees
Sectioná51Other Creditors with a Claim to Separate Satisfaction
Sectioná52Elimination of Creditors with a Right to Separate Satisfaction
Sectioná53Preferential Creditors
Sectioná54Costs of the Insolvency Proceedings
Sectioná55Other Debts Incumbent on the Estate
Chapter Three
Insolvency Administrator.
Bodies Representing the Creditors
Sectioná56Appointment of an Insolvency Administrator
Section 56aInvolvement of the Creditors in the Appointment of the Administrator
Sectioná57Electionáof a Different Insolvency Administrator
Sectioná58Supervision by the Insolvency Court
Sectioná59Dismissal of the Insolvency Administrator
Sectioná60Liability of the Insolvency Administrator
Sectioná61Non-performance of Debts Incumbent on the Estate
Sectioná62Period of Limitation
Sectioná63Remuneration of the Insolvency Administrator
Sectioná64Determination by the Insolvency Court
Sectioná65Empowerment to Issue an Order
Sectioná66Rendering of Accounts
Sectioná67Establishment of the Creditors' Committee
Sectioná68Electionáof Different Members
Sectioná69Duties Incumbent on the Creditors' Committee
Sectioná71Liability of the Members of the Creditors' Committee
Sectioná72Decisions of the Creditors' Committee
Sectioná73Remuneration of the Members of the Creditors' Committee
Sectioná74Convening the Creditors' Assembly
Sectioná75Request to Convene a Creditors' Assembly
Sectioná76Decisions of the Creditors' Assembly
Sectioná77Determination of Voting Right
Sectioná78Repeal of a Decision taken by the Creditors' Assembly
Sectioná79Information to the Creditors' Assembly
Part Three
Effects of the Opening of Insolvency Proceedings
Chapter One
General Effects
Sectioná80Right to Manage and Transfer the Insolvency Estate Vested in the Insolvency Administrator
Sectioná81Dispositions by the Debtor
Sectioná82Performance in Favour of the Debtor
Sectioná83Decedent's Estate. Continued Community
Sectioná84Liquidation of a Company or a Community
Sectioná85Joinder of Pending Actions as Plaintiff
Sectioná86Joinder of Certain Pending Actions as Defendant
Sectioná87Claims held by the Insolvency Creditors
Sectioná88Execution prior to the Opening of Insolvency Proceedings
Sectioná89Prohibition of Execution
Sectioná90Prohibition of Execution under Debts Incumbent on the Estate
Sectioná91Exclusion of other Acquisition of Rights
Sectioná92General Damage
Sectioná93Personal Liability of Partners
Sectioná94Preservation of the Right to Set Off a Claim
Sectioná95Acquisition of the Right to Set Off a Claim During the Proceedings
Sectioná96Prohibition of Set-Off
Sectioná97The Debtor's Obligation to Disclosure and Cooperation
Sectioná98Imposition of the Duties of the Debtor
Sectioná99Interception of the Debtor's Mail
Sectioná100Maintenance Payments using the Insolvency Estate
Sectioná101Members of the Body Representing the Debtor. Employees
Sectioná102Restriction of a Basic Right
Chapter Two
Performance of Transactions.
Cooperation of the Works Council
Sectioná103Option to be Exercised by the Insolvency Administrator
Sectioná104Fixed-date Transactions. Financial Services
Sectioná105Severable Contracts
Sectioná106Priority Notice
Sectioná107Retention of Title
Sectioná108Continuity of Certain Continuous Obligations
Sectioná109Debtor's Status as Tenant or Lessee
Sectioná110Debtor's Status as Landlord or Lessor
Sectioná111Sale of Property Let by the Debtor
Sectioná112Prohibition to Terminate Tenancy or Lease Contracts
Sectioná113Termination of Employment
Sectioná114Emoluments from Employment
Sectioná115Expiry of Mandates
Sectioná116Expiry of Management Contracts
Sectioná117Expiry of Proxies
Sectioná118Liquidation of Companies
Sectioná119Invalidity of Agreements Derogating from the Foregoing Provisions
Sectioná120Termination of Plant Agreements
Sectioná121Modifications to the Enterprise and Conciliatory Proceedings
Sectioná122Judicial Approval of a Modification of the Enterprise
Sectioná123Scope of the Social Plan
Sectioná124Social Plan Established Prior to the Opening of Insolvency Proceedings
Sectioná125Reconciliation of Interests and Dismissals Protection
Sectioná126Judicial Orders Deciding on Dismissal Protection
Sectioná127Action brought by an Employee
Sectioná128Sale of Enterprise
Chapter Three
Contest of Debtor's Transactions in Insolvency Proceedings
Sectioná130Congruent Coverage
Sectioná131Incongruent Coverage
Sectioná132Transactions Immediately Disadvantaging the Insolvency Creditors
Sectioná133Wilful Disadvantage
Sectioná134Gratuitous Benefit
Sectioná135Loans Replacing Equity Capital
Sectioná136Silent Partnership
Sectioná137Payments on Bills of Exchange and Cheques
Sectioná138Persons with a Close Relationship to the Debtor
Sectioná139Calculation of Time Periods Prior to the Request to Open Insolvency Proceedings
Sectioná140Date of Performance of Transaction
Sectioná141Executable Deed
Sectioná142Cash Transactions
Sectioná143Legal Consequences
Sectioná144Claims of the Party to the Contested Transaction
Sectioná145Transactions Contested and Enforced against Legal Successors
Sectioná146Limitation of the Right to Contest
Sectioná147Transactions Carried out Subsequent to the Opening of Insolvency Proceedings
Part Four
Management and Disposition of the Insolvency Estate
Chapter One
Preservation of the Insolvency Estate
Sectioná148Transfer of the Insolvency Estate
Sectioná149Objects of Value
Sectioná151Record of the Insolvency Estate
Sectioná152Record of Creditors
Sectioná153Survey of Property
Sectioná154Deposit with the Registry of the Insolvency Court
Sectioná155Accounting under Commercial and Fiscal Laws
Chapter Two
Decision on Disposition
Sectioná156Report Meeting
Sectioná157Decision on the Further Proceedings
Sectioná158Measures taken prior to the Decision
Sectioná159Disposition of the Insolvency Estate
Sectioná160Transactions of Particular Importance
Sectioná161Provisional Prohibition of the Transaction
Sectioná162Sale of Enterprise to Persons with Specific Interests
Sectioná163Sale of Enterprise below Value
Sectioná164Legal Validity of the Transaction
Chapter Three
Objects Subject to a Right to Separate Satisfaction
Sectioná165Disposition of Immovables
Sectioná166Disposition of Movables
Sectioná167Notification of the Creditor
Sectioná168Notification of Envisaged Sale
Sectioná169Protectionáof the Creditor Against Delayed Disposition
Sectioná170Distribution of Proceeds
Sectioná171Calculation of the Contribution to Costs
Sectioná172Other Use of Movables
Sectioná173Disposition by the Creditor
Part Five
Satisfaction of the Insolvency Creditors.
Discontinuation of the Proceedings
Chapter One
Determination of Claims
Sectioná174Filing of Claims
Sectioná176Proceedings of the Verification Meeting
Sectioná177Subsequent Filings
Sectioná178Prerequisites and Effects of the Determination of Claims
Sectioná179Contested Claims
Sectioná180Competence for the Determination of Claims
Sectioná181Scope of Determination
Sectioná182Value of Action
Sectioná183Effect of the Decision
Sectioná184Action to Enforce a Claim Contested by the Debtor
Sectioná185Special Jurisdiction
Sectioná186Restitutio in Integrum
Chapter Two
Sectioná187Satisfaction of the Insolvency Creditors
Sectioná188Distribution Record
Sectioná189Consideration of Contested Claims
Sectioná190Consideration of Creditors with a Right to Separate Satisfaction
Sectioná191Consideration of Claims Subject to a Condition Precedent
Sectioná192Subsequent Consideration
Sectioná193Amendments to the Distribution Record
Sectioná194Objectionsáto the Distribution Record
Sectioná195Determination of a Fraction
Sectioná196Final Distribution
Sectioná197Final Meeting
Sectioná198Deposit of Retained Funds
Sectioná199Surplus Resulting from Final Distribution
Sectioná200Termination of the Insolvency Proceedings
Sectioná201Rights of the Insolvency Creditors Subsequent to Termination
Sectioná202Jurisdiction for Execution
Sectioná203Order to Carry Out Delayed Distribution
Sectioná205Implementation of Delayed Distribution
Sectioná206Exclusion of Preferential Creditors
Chapter Three
Discontinuation of Insolvency Proceedings
Sectioná207Discontinuation for Insufficiency of Assets
Sectioná208Notification of Insufficiency of Assets
Sectioná209Satisfaction of Preferential Creditors
Sectioná210Prohibition of Execution
Section 210aInsolvency Plan In the Case of Insufficient Assets
Sectioná211Discontinuation upon Notification of Insufficiency of Assets
Sectioná212Discontinuation for Subsequent Lack of Grounds to Open Insolvency Proceedings
Sectioná213Discontinuation with the Creditors' Consent
Sectioná214Discontinuation Procedure
Sectioná215Publication and Legal Effects of Discontinuation
Part Six
Insolvency Plan
Chapter One
Establishment of the Plan
Section 218Submission of the Insolvency Plan
Sectioná219Breakdown of the Plan
Sectioná220Declaratory Part
Sectioná221Constructive Part
Sectioná222Formation of Groups
Sectioná223Rights of Creditors Entitled to Separate Satisfaction
Sectioná224Rights of the Insolvency Creditors
Sectioná225Rights of Lower-ranking Insolvency Creditors
Section 225aRights of the Shareholders
Sectioná226Equal Treatment of Parties Involved
Sectioná227Debtor's Liability
Sectioná228Modification of Conditions under Property Law
Sectioná229Survey of Assets. Earnings and Finance Plan
Sectioná230Further Attachments
Sectioná231Refusal of the Plan
Sectioná232Comments on the Plan
Sectioná233Suspension of Disposition and Distribution
Sectioná234Laying Out of the Plan
Chapter Two
Acceptance and Approval of the Plan
Sectioná235Discussion and Voting Meeting
Sectioná236Coincidence with the Verification Meeting
Sectioná237Voting Right of the Insolvency Creditors
Sectioná238Voting Right of Creditors Entitled to Separate Satisfaction
Section 238aVoting Right of Shareholders
Sectioná239Voting List
Sectioná240Modification of the Plan
Sectioná241Separate Voting Meeting
Sectioná242Voting in Writing
Sectioná243Voting by Groups
Sectioná244Necessary Majorities
Sectioná245Prohibition to Obstruct
Sectioná246Consent of Lower-ranking Creditors of the Insolvency Proceedings
Section 246aConsent of the Shareholders
Sectioná247Debtor's Consent
Sectioná248Approval by the Court
Section 248aCourt Approval of Corrections to the Plan
Sectioná249Plan Subject to Conditions
Sectioná250Contravention of Procedural Provisions
Sectioná251Protectionáof Minorities
Sectioná252Publication of Decision
Chapter Three
Effects of the Approved Plan.
Monitoring Implementation of the Plan
Sectioná254General Effects of the Plan
Section 254aRights in Objects. Other Effects
Section 254bEffects for all those Involved
Sectioná255Proviso of Revival
Sectioná256Contested Claims. Remaining Claims
Sectioná257Execution under the Plan
Sectioná258Termination of the Insolvency Proceedings
Sectioná259Effects of Termination
Section 259aProtection Against Unfair Judicial Execution
Section 259bSpecial Period of Limitation
Sectioná260Monitoring Implementation of the Plan
Sectioná261Tasks and Rights of the Insolvency Administrator
Sectioná262Obligation to Disclosure Incumbent on the Insolvency Administrator
Sectioná263Transactions Requiring Consent
Sectioná264Loan Ceiling
Sectioná265Lower-ranking Status of New Creditors
Sectioná266Consideration of Lower-ranking Status
Sectioná267Publication of Monitoring
Sectioná268Termination of Monitoring
Sectioná269Costs of Monitoring
Part Seven
Debtor-in-Possession Management
Section 270aOpening Proceedings
Section 270bPreparations for Reorganisation
Section 270cAppointment of an Insolvency Monitor
Sectioná271Subsequent Order
Sectioná272Repeal of the Order
Sectioná274Legal Status of the Insolvency Monitor
Sectioná275Consent of the Insolvency Monitor
Sectioná276Consent of the Creditors' Committee
Section 276aInvolvement of Supervisory Organs
Sectioná277Ordering the Requirement of Consent
Sectioná278Funds for the Debtor's Livelihood
Sectioná279Mutual Contracts
Sectioná280Liability. Contest of the Debtor's Transactions in Insolvency Proceedings
Sectioná281Notification of Creditors
Sectioná282Disposition of Securities
Sectioná283Satisfaction of the Insolvency Creditors
Sectioná284Insolvency Plan
Sectioná285Insufficiency of Assets
Part Eight
Discharge of Residual Debt
Sectioná287Debtor's Request
Sectioná288Right of Proposal
Sectioná289Decision by the Insolvency Court
Sectioná290Refusal of Discharge of Residual Debt
Sectioná291Notification of Discharge of Residual Debt
Sectioná292Legal Status of Trustee
Sectioná293Trustee' s Remuneration
Sectioná294Equal Treatment of Creditors
Sectioná295Obligations of the Debtor
Sectioná296Contravention of Obligations
Sectioná297Insolvency Offences
Sectioná298Coverage of the Trustee's Minimum Remuneration
Sectioná299Expiry before Date
Sectioná300Decision on Discharge of Residual Debt
Sectioná301Effect of Discharge of Residual Debt
Sectioná302Excepted Claims
Sectioná303Retraction of Discharge of Residual Debt
Part Nine
Consumer Insolvency Proceedings and Other Minor Proceedings
Chapter One
Scope of Application
Chapter Two
Plan for the Settlement of Debts
Sectioná305Debtor's Request to open Insolvency Proceedings
Sectioná305aFailure of Out-of-Court Debt Settlement
Sectioná306Suspension of Proceedings
Sectioná307Service on the Creditors
Sectioná308Acceptance of the Plan for the Settlement of Debts
Sectioná309Replacement of Approval
Chapter Three
Simplified Insolvency Proceedings
Sectioná311Initiation of the Proceedings concerning Opening of the Insolvency Proceedings
Sectioná312General Procedural Simplifications
Sectioná314Simplified Distribution
Part Ten
Special Types of Insolvency Proceeding
Chapter One
Insolvency Proceedings of a Decedent's Estate
Sectioná315Local Jurisdiction
Sectioná316Admissibility of the Opening of Insolvency Proceedings
Sectioná317Persons Entitled to Request the Opening of Proceedings
Sectioná318Entitlement to make a Request for the Joint Marital Property
Sectioná319Request Deadline
Sectioná320Reasons for Opening
Sectioná321Execution following Succession
Sectioná322Contestable Transactions on the Part of the Heir
Sectioná323The Heir's Expenses
Sectioná324Debts Incumbent on the Estate
Sectioná325Obligations Incumbent on the Estate
Sectioná326The Heir's Claims
Sectioná327Lower-ranking Obligations
Sectioná328Restituted Objects
Sectioná329Revisionary Succession
Sectioná330Purchase of a Decedent's Estate
Sectioná331Simultaneous Insolvency of the Heir
Chapter Two
Insolvency Proceedings relating to the
Joint Marital Property of a Continued Community
Sectioná332Referral to Insolvency Proceedings opened for an Estate
Chapter Three
Insolvency Proceedings relating to the
Jointly Administered Marital Property of a Community
Sectioná333Right to file a Request. Grounds for Opening Proceedings
Sectioná334Personal Liability of the Spouses
Part Eleven
International Insolvency Law
Chapter One
General Provisions
Sectioná336Contract on an Immovable
Sectioná339Contest of Transactions in Insolvency Proceedings
Sectioná340Organized Markets. Pension Transactions
Sectioná341Exercising Creditor Rights
Sectioná342Return. Imputation
Chapter Two
Foreign Insolvency Proceedings
Sectioná344Preservation Measures
Sectioná346Land Register
Sectioná347Proof of Appointment of the Administrator. Notification of the Court
Sectioná348Insolvency Court with Jurisdiction. Cooperation between Insolvency Courts
Sectioná349Disposal of Immovables
Sectioná350Performance in Favour of the Debtor
Sectioná351Rights in Rem
Sectioná352Interruption and Joinder of an Action
Sectioná353Enforceability of Foreign Judgments
Chapter Three
Territorial Insolvency Proceedings relating to Domestic Assets
Sectioná354Preconditions for Territorial Insolvency Proceedings
Sectioná355Discharge of Residual Debt. Insolvency Plan
Sectioná356Secondary Insolvency Proceedings
Sectioná357Cooperation between the Insolvency Administrators
Sectioná358Surplus Resulting from Final Distribution
Part Twelve
Entry into Force
Sectioná359Referral to Introductory Act