[eu]cite

Home› Insolvency Law› InsO (EN)

Part 2 · Opening of insolvency proceedings. Recognised assets and parties to proceedings  ›  Division 1 · Conditions and procedure for opening of proceedings › Section 28

Requirements incumbent on creditors and debtors

(1) In the order opening the insolvency proceedings, the creditors are to be asked to file their claims in compliance with section 174 with the insolvency administrator within a definite period of time. Such period is to be set at no less than two weeks and no more than three months.

(2) In the order opening the insolvency proceedings, the creditors are to be asked without delay to inform the insolvency administrator of which security interests they claim to have in personal property or rights of the debtor. Details are to be provided of the object of the claimed security interest, the nature and causal origin of the security interest, as well as the secured claim. Any person who culpably fails to provide this information or provides it late is liable for the resulting damage.

(3) In the order opening the insolvency proceedings, those persons having obligations to the debtor are to be asked no longer to fulfil these obligations vis-à-vis the debtor, but vis-à-vis the administrator.

←→ also move between sections