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Part 3 · Effects of opening insolvency proceedings  ›  Division 2 · Performance of transactions. Cooperation of works council › Section 116

Expiry of management contracts

If anyone is obliged under a service or work contract with the debtor to manage a business transaction for the latter, section 115 applies accordingly. The provisions governing reimbursement claims arising from a continuation of such management contract also apply to claims to remuneration. Sentence 1 does not apply to payment orders or to orders between payment services providers or intermediary bodies and orders for the transfer of securities; these continue to exist with effect for the assets.

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