(1) Where insolvency proceedings are opened regarding the assets of the company, or where the petition filed for the opening of such proceedings is refused due to lack of assets, a creditor or shareholder has the option either himself or herself or through an auditor the creditor or shareholder is to determine or, in the case governed by section 319 (1) sentence 2, through a certified accountant to inspect the auditor’s additional reports of the statutory auditor concerning the audit of the annual financial statements for the last three financial years performed based on statutory requirements, insofar as they relate to the reporting called for pursuant to section 321. The claim is to be made vis-à-vis that party that has the auditor’s additional reports in its possession.
(2) In the case of a stock corporation or of a public partly limited partnership, the shareholders will be entitled to the rights pursuant to subsection (1) sentence 1 only if their shares collectively make up one hundredth of the capital stock or have a market value of 100,000 euros at the time the claim is asserted. The statutory auditor may provide explanations of the auditor’s additional report vis-à-vis the persons set out in subsection (1) sentence 1.
(3) The insolvency administrator or a statutory representative of the debtor may object to the disclosure of secrets, namely trade secrets or business secrets, if their disclosure is suited to be seriously prejudicial to the company. Section 323 (1) and (3) remains unaffected in all other regards. Notwithstanding the stipulations made in sentence 1, the parties entitled pursuant to subsection (1) sentence 1 are under obligation to keep confidential the contents of the documents they have inspected pursuant to subsection (1) sentence 1.
(4) Subsections (1) to (3) apply accordingly if the debtor is under obligation to draw up consolidated financial statements and consolidated management reports.