(1) If a German court does not have jurisdiction to open insolvency proceedings relating to all the debtor’s assets, but the debtor has a registered office or other assets on domestic territory, then at the creditor’s request, separate insolvency proceedings are permissible with regard to the domestic assets of the debtor (territorial insolvency proceedings).
(2) If the debtor has no registered office on domestic territory, a creditor’s request to open territorial insolvency proceedings is only admissible if the latter has a particular interest proceedings being opened, in particular if that debtor is likely to fare much worse in foreign proceedings than in domestic proceedings. The person filing the request is to show the particular interest to the satisfaction of the court.
(3) That insolvency court has exclusive jurisdiction as regards the proceedings in whose district the registered office or, if there is no registered office, the debtor’s assets are situated. Section 3 (3) applies accordingly.