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Part 2 · Opening of insolvency proceedings. Recognised assets and parties to proceedings  ›  Division 2 · Insolvency estate. Classification of creditors › Section 50

Separate satisfaction of pledgees

(1) Creditors holding a contractual pledge, a pledge acquired by attachment or a legal lien in an object forming part of the insolvency estate are entitled to separate satisfaction in respect of the main claim, interest and costs from the pledged object under sections 166 to 173.

(2) A landlord’s or lessor’s legal lien may not be claimed in insolvency proceedings for rent or lease payments covering an earlier period than the last 12 months before the opening of insolvency proceedings and for any damages to be paid owing to the termination of such lease by the insolvency administrator. Liens held by lessors of agricultural land are not subject to such restriction with respect to the lease payment.

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