Insolvenzverfahren Durchführung

Section 13 paragraph 1 of the Insolvency Code (InsO)
https://www.gesetze-im-internet.de/inso/__13.html

You can apply for insolvency proceedings

• as debtor or
• as a creditor.

You can apply for the opening of insolvency proceedings against the assets of a debtor if

• You are the debtor yourself (so-called self-application) or
• You are a creditor (so-called third-party application).

Insolvency proceedings can be conducted, among other things, as

• consumer insolvency proceedings,
• Standard insolvency proceedings or
• Insolvency proceedings.

Consumer insolvency proceedings:

• The application forms prescribed by law must be used.

Standard insolvency proceedings against a company:

• There are no legally required forms.

Insolvency courts generally have forms available on their websites. You can use them.

The requirements vary depending on the type of insolvency proceedings.

Insolvency proceedings are subject to costs.
Court fees are charged. The amount depends on the value of the insolvency estate in each individual case.

Under certain conditions, you can apply for a deferral of the procedural costs.

• If an insolvency application is received by an insolvency court, the insolvency court will examine whether the application is admissible and well-founded during the insolvency opening proceedings.
• The insolvency court examines whether the costs of the insolvency proceedings can be paid.
• If all requirements are met, the insolvency court opens insolvency proceedings.

Consumer insolvency proceedings:
The decision on the insolvency application usually takes only a few days. The procedure itself typically takes between six and 12 months. The procedure for discharge from residual debt takes three years from the opening of the insolvency proceedings.

Standard insolvency proceedings against a company:
The decision on the insolvency application takes between a few weeks and three months. The proceedings themselves, if initiated, usually take several years, on average three to five years, but often longer, in exceptional cases over ten years.

Different deadlines apply depending on the type of insolvency proceedings.

The residual debt relief procedure is particularly important for individuals. It allows you to be released from debts that were not paid off in the insolvency proceedings.

The Insolvency Code also offers the possibility of making a different arrangement in an insolvency plan, particularly to preserve the company.

Restructuring can also be carried out without judicial involvement on the basis of a restructuring plan pursuant to the provisions of the Corporate Stabilization and Restructuring Act (StaRUG). This Act provides judicial instruments to support the stabilization and restructuring process (such as a preliminary judicial review of a plan or the appointment of a restructuring officer).

immediate complaint

• Joint satisfaction of the creditors of an insolvent debtor
• Realisation of the debtor’s assets
• Distribution of proceeds
• If necessary, different arrangements may apply to maintain the company.

District Court of Hamburg