[eu]cite

Home› Insolvency Law› InsO (EN)

Part 2 · Opening of insolvency proceedings. Recognised assets and parties to proceedings  ›  Division 3 · Insolvency administrator. Bodies representing creditors › Section 56b

Appointment of administrator for debtors in same group of companies

(1) Where a request is made to open insolvency proceedings against the assets of debtor companies in a group of companies, the insolvency courts applied to must reach agreement as to whether it is in the creditorsʼ interests to appoint only one person as insolvency administrator. When reaching such agreement they are, in particular, to discuss whether this person is able to maintain the necessary independence regarding all the proceedings against debtor companies in the group of companies and whether possible conflicts of interest can be avoided by appointing special insolvency administrators.

(2) The court may deviate from the proposal or the requirements made by a provisional creditorsʼ committee pursuant to section 56a if a provisional creditorsʼ committee appointed for another debtor company in a group of companies unanimously proposes another person who is suited to taking on the role referred to in subsection (1) sentence 1. The provisional creditorsʼ committee is to be heard before appointing this person. Where a special insolvency administrator is to be appointed to resolve conflicts of interest, section 56a applies accordingly.

←→ also move between sections