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Part 4 · Management and disposal of insolvency estate  ›  Division 3 · Objects subject to right to separate satisfaction › Section 166

Realisation of movables

(1) The insolvency administrator may realise a movable item to which he or she has a right to separate satisfaction without restriction if it is in his or her possession.

(2) The insolvency administrator may collect or in another way realise a claim assigned by the debtor in order to secure a claim.

(3) Subsections (1) and (2) do not apply

1.  to items to which a security in favour of the operator or the participant in a system pursuant to section 1 (16) of the Banking Act exists to secure claims under the system,

2.  to items to which a security in favour of the central bank of a Member State of the European Union or a Contracting Party to the Agreement on the European Economic Area or in favour of the European Central Bank exists,

3.  to a financial security within the meaning of section 1 (17) of the Banking Act.

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