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Part 2 · Opening of insolvency proceedings. Recognised assets and parties to proceedings  ›  Division 3 · Insolvency administrator. Bodies representing creditors › Section 58

Supervision by insolvency court

(1) The insolvency administrator is subject to supervision by the insolvency court. The court may require the insolvency administrator at any time to give specific information or to report on the progress of the proceedings and on the management.

(2) If the insolvency administrator does not fulfil his or her duties, subsequent to a warning the court may impose an administrative fine on him or her. A coercive penalty payment may not exceed the sum of 25,000 euros. The administrator may bring an immediate appeal against the decision.

(3) Subsection (2) applies accordingly to the implementation of the obligation to return assets in respect of an administrator who has been dismissed.

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