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InsO (EN) 🇩🇪

InsO-EN · 413 sections

Part 1
General provisions▸

Section 1Objectives of insolvency proceedings Section 2Jurisdiction of local court as insolvency court Section 3Local jurisdiction Section 3aGroup jurisdiction Section 3bContinuance of group jurisdiction Section 3cJurisdiction for group ancillary proceedings Section 3dReferral to court with group jurisdiction Section 3eGroup of companies Section 4Applicability of Code of Civil Procedure Section 4aDeferment of costs of insolvency proceedings Section 4bRepayment and adjustment of deferred amounts Section 4cRescission of deferment Section 4dLegal recourse Section 5Principles of insolvency proceedings Section 6Immediate appeal Section 7Section 7 Section 8Service Section 9Publication Section 10Hearing of debtor Section 10aPreliminary meeting

Part 2
Opening of insolvency proceedings. Recognised assets and parties to proceedings▸

Division 1 · Conditions and procedure for opening of proceedings

Section 11Admissibility of insolvency proceedings Section 12Legal entities under public law Section 13Request to open insolvency proceedings Section 13aRequest to establish group jurisdiction Section 14Request by creditor Section 15Right of request in case of legal entities and associations without legal personality Section 15aObligation to request in case of legal entities and associations without legal personality Section 15bPayments in event of insolvency and overindebtedness; period of limitation Section 16Reason to open insolvency proceedings Section 17Insolvency Section 18Imminent insolvency Section 19Overindebtedness Section 20Disclosure and cooperation requirements during opening proceedings. Reference to discharge of residual debt Section 21Decisions ordering provisional measures Section 22Legal status of provisional insolvency administrator Section 22aAppointment of provisional creditors’ committee Section 23Publication of restriction on property transfers Section 24Effects of restrictions on property transfers Section 25Repeal of preservation measures Section 26Refusal for insufficiency of assets Section 26aProvisional insolvency administrator’s remuneration Section 27Order opening insolvency proceedings Section 28Requirements incumbent on creditors and debtors Section 29Docketing of meetings Section 30Publication of order opening insolvency proceedings Section 31Commercial Register, Register of Cooperatives, Register of Partnerships and Register of Associations Section 32Land register Section 33Ship/aircraft register Section 34Appeal

Division 2 · Insolvency estate. Classification of creditors

Section 35Definition of insolvency estate Section 36Objects not subject to attachment Section 37Joint marital property of community of property Section 38Definition of insolvency creditors Section 39Lower-ranking insolvency creditors Section 40Claims to maintenance Section 41Immature claims Section 42Claims subject to resolutory condition Section 43Liability incumbent on several persons Section 44Rights of joint and several debtors and of guarantors Section 44aSecured loans Section 45Conversion of claims Section 46Recurring payments Section 47Right to separation Section 48Right to separation extending to consideration received as substitute for object of separation Section 49Separate satisfaction from immovables Section 50Separate satisfaction of pledgees Section 51Other creditors with claim to separate satisfaction Section 52Elimination of creditors with right to separate satisfaction Section 53Preferential creditors Section 54Costs of insolvency proceedings Section 55Other debts incumbent on estate

Division 3 · Insolvency administrator. Bodies representing creditors

Section 56Appointment of insolvency administrator Section 56aCreditor’s involvement in appointment of administrator Section 56bAppointment of administrator for debtors in same group of companies Section 57Election of different insolvency administrator Section 58Supervision by insolvency court Section 59Dismissal of insolvency administrator Section 60Liability of insolvency administrator Section 61Non-performance of debts incumbent on estate Section 62Period of limitation Section 63Remuneration of insolvency administrator Section 64Determination by insolvency court Section 65Authorisation to issue statutory instrument Section 66Rendering of accounts Section 67Establishment of creditors’ committee Section 68Election of different members Section 69Duties incumbent on creditors’ committee Section 70Dismissal Section 71Liability of members of creditors’ committee Section 72Decisions of creditors’ committee Section 73Remuneration of members of creditors’ committee Section 74Convening creditors’ assembly Section 75Request to convene creditors’ assembly Section 76Decisions by creditors’ assembly Section 77Determination of voting right Section 78Repeal of decision taken by creditors’ assembly Section 79Provision of information to creditors’ assembly

Part 3
Effects of opening insolvency proceedings▸

Division 1 · General effects

Section 80Right to manage and transfer insolvency estate vested in insolvency administrator Section 81Disposals by debtor Section 82Performance in favour of debtor Section 83Deceased’s estate. Continued community Section 84Liquidation of company or community Section 85Joinder of pending actions as plaintiff Section 86Joinder of certain pending actions as defendant Section 87Claims held by insolvency creditors Section 88Execution prior to opening of insolvency proceedings Section 89Prohibition of execution Section 90Prohibition of execution under debts incumbent on estate Section 91Exclusion of other acquisition of rights Section 92General damage Section 93Personal liability of partners Section 94Preservation of right to set off claim Section 95Acquisition of right to set off claim during proceedings Section 96Prohibition of set-off Section 97Debtor’s disclosure and cooperation requirements Section 98Imposition of duties of debtor Section 99Interception of debtor’s mail Section 100Maintenance payments using insolvency estate Section 101Members of body representing debtor. Employees Section 102Restriction of basic right

Division 2 · Performance of transactions. Cooperation of works council

Section 103Option to be exercised by insolvency administrator Section 104Fixed-date transactions, financial services, contractual liquidation netting Section 105Severable contracts Section 106Priority notice Section 107Retention of title Section 108Continuity of certain continuous obligations Section 109Debtor’s status as tenant or lessee Section 110Debtor’s status as landlord or lessor Section 111Sale of property let by debtor Section 112Prohibition of termination of tenancy or lease contracts Section 113Termination of employment Section 114Section 114 Section 115Expiry of mandates Section 116Expiry of management contracts Section 117Expiry of proxies Section 118Liquidation of companies Section 119Invalidity of deviating agreements Section 120Termination of works agreements Section 121Operational changes and conciliatory proceedings Section 122Judicial approval of operational changes Section 123Scope of social plan Section 124Social plan established prior to opening of insolvency proceedings Section 125Reconciliation of interests and dismissals protection Section 126Judicial orders deciding on dismissal protection Section 127Action brought by employee Section 128Sale of enterprise

Division 3 · Contest of debtor’s transactions in insolvency proceedings

Section 129Principle Section 130Congruent coverage Section 131Incongruent coverage Section 132Transactions directly disadvantaging insolvency creditors Section 133Wilful disadvantage Section 134Gratuitous benefit Section 135Loans replacing equity capital Section 136Silent partnership Section 137Payments on bills of exchange and cheques Section 138Persons with close relationship to debtor Section 139Calculation of time periods prior to request to open insolvency proceedings Section 140Date of performance of transaction Section 141Executable deed Section 142Cash transactions Section 143Legal consequences Section 144Claims of party to contested transaction Section 145Transactions contested and enforced against legal successors Section 146Limitation of right to contest Section 147Transactions carried out subsequent to opening of insolvency proceedings

Part 4
Management and disposal of insolvency estate▸

Division 1 · Preservation of insolvency estate

Section 148Transfer of insolvency estate Section 149Objects of value Section 150Sealing Section 151Record of insolvency estate Section 152Record of creditors Section 153Survey of property Section 154Deposit with registry of insolvency court Section 155Accounting under commercial and fiscal laws

Division 2 · Decision on realisation

Section 156Report meeting Section 157Decision on further proceedings Section 158Measures taken prior to decision Section 159Realisation of insolvency estate Section 160Transactions of particular importance Section 161Provisional prohibition of transaction Section 162Sale of enterprise to persons with specific interests Section 163Sale of enterprise below value Section 164Legal validity of transaction

Division 3 · Objects subject to right to separate satisfaction

Section 165Realisation of immovables Section 166Realisation of movables Section 167Notification of creditor Section 168Notification of envisaged sale Section 169Protection of creditor against delayed disposal Section 170Distribution of proceeds Section 171Calculation of contribution to costs Section 172Other use of movables Section 173Realisation by creditor

Part 5
Satisfaction of insolvency creditors. Discontinuation of proceedings▸

Division 1 · Determination of claims

Section 174Filing of claims Section 175Schedule Section 176Procedure for verification meeting Section 177Subsequent filings Section 178Prerequisites and effects of determination of claims Section 179Contested claims Section 180Competence for determination of claims Section 181Scope of determination Section 182Value of action Section 183Effect of decision Section 184Action to enforce claim contested by debtor Section 185Special jurisdiction Section 186Restitutio in integrum

Division 2 · Distribution

Section 187Satisfaction of insolvency creditors Section 188Distribution record Section 189Consideration of contested claims Section 190Consideration of creditors with right to separate satisfaction Section 191Consideration of claims subject to condition precedent Section 192Subsequent consideration Section 193Amendments to distribution record Section 194Objections to distribution record Section 195Determination of fraction Section 196Final distribution Section 197Final meeting Section 198Deposit of retained funds Section 199Surplus resulting from final distribution Section 200Termination of insolvency proceedings Section 201Rights of insolvency creditors subsequent to termination Section 202Jurisdiction for execution Section 203Order to carry out delayed distribution Section 204Appeal Section 205Implementation of delayed distribution Section 206Exclusion of preferential creditors

Division 3 · Discontinuation of insolvency proceedings

Section 207Discontinuation for insufficiency of assets Section 208Notification of insufficiency of assets Section 209Satisfaction of preferential creditors Section 210Prohibition of execution Section 210aInsolvency plan in case of insufficient assets Section 211Discontinuation upon notification of insufficiency of assets Section 212Discontinuation for subsequent lack of grounds to open insolvency proceedings Section 213Discontinuation with creditors’ consent Section 214Discontinuation procedure Section 215Publication and legal effects of discontinuation Section 216Appeal

Part 6
Insolvency plan▸

Division 1 · Establishment of plan

Section 217Principle Section 218Submission of insolvency plan Section 219Breakdown of plan Section 220Declaratory part Section 221Constructive part Section 222Formation of groups Section 223Rights of creditors entitled to separate satisfaction Section 223aIntra-group third-party guarantees Section 224Rights of insolvency creditors Section 225Rights of lower-ranking insolvency creditors Section 225aRights of shareholders Section 226Equal treatment of parties Section 227Debtor’s liability Section 228Modification of conditions under property law Section 229Survey of assets. Earnings and finance plan Section 230Further attachments Section 231Refusal of plan Section 232Comments on plan Section 233Suspension of realisation and distribution Section 234Laying out of plan

Division 2 · Acceptance and approval of plan

Section 235Discussion and voting meeting Section 236Coincidence with verification meeting Section 237Voting right of insolvency creditors Section 238Voting right of creditors entitled to separate satisfaction Section 238aVoting right of shareholders Section 238bVoting right of those entitled as result of intra-group third-party guarantees Section 239Voting list Section 240Modification of plan Section 241Separate voting meeting Section 242Voting in writing Section 243Voting by groups Section 244Necessary majorities Section 245Prohibition of obstruction Section 245aNatural persons placed at disadvantage Section 246Consent of lower-ranking creditors of insolvency proceedings Section 246aConsent of shareholders Section 247Debtor’s consent Section 248Approval by court Section 248aCourt approval of corrections to plan Section 249Plan subject to conditions Section 250Contravention of procedural provisions Section 251Protection of minorities Section 252Publication of decision Section 253Appeal

Division 3 · Effects of approved plan. Monitoring implementation of plan

Section 254General effects of plan Section 254aRights in objects. Other effects Section 254bEffects for all involved Section 255Proviso of revival Section 256Contested claims. Remaining claims Section 257Execution under plan Section 258Termination of insolvency proceedings Section 259Effects of termination Section 259aProtection against unfair judicial execution Section 259bSpecial period of limitation Section 260Monitoring implementation of plan Section 261Tasks and rights of insolvency administrator Section 262Disclosure requirement incumbent on insolvency administrator Section 263Transactions requiring consent Section 264Loan ceiling Section 265Lower-ranking status of new creditors Section 266Consideration of lower-ranking status Section 267Publication of monitoring Section 268Termination of monitoring Section 269Costs of monitoring

Part 7
Coordination of proceedings concerning debtors which are members of same group of companies▸

Division 1 · General provisions

Section 269aCooperation between insolvency administrators Section 269bCooperation between courts Section 269cCooperation between creditors’ committees

Division 2 · Coordination proceedings

Section 269dCoordination court Section 269eCoordinator Section 269fCoordinatorʼs tasks and legal status Section 269gCoordinatorʼs remuneration Section 269hCoordination plan Section 269iDeviations from coordination plan

Part 8
Debtor-in-possession management▸

Section 270Principle Section 270aRequest; debtor-in-possession management plan Section 270bOrder for provisional debtor-in-possession management Section 270cProcedure for provisional debtor-in-possession management Section 270dPreparations for restructuring; “protective shield” Section 270eTermination of provisional debtor-in-possession management Section 270fOrder for debtor-in-possession management Section 270gDebtor-in-possession management in respect of debtor companies in group of companies Section 271Subsequent order Section 272Repeal of order Section 273Publication Section 274Legal status of insolvency monitor Section 275Consent of insolvency monitor Section 276Consent of creditors’ committee Section 276aInvolvement of supervisory organs Section 277Ordering requirement of consent Section 278Funds for debtor’s livelihood Section 279Mutual contracts Section 280Liability. Contest of debtor’s transactions in insolvency proceedings Section 281Notification of creditors Section 282Realisation of securities Section 283Satisfaction of insolvency creditors Section 284Insolvency plan Section 285Insufficiency of assets

Part 9
Discharge of residual debt▸

Section 286Principle Section 287Debtor’s request Section 287aDecision of insolvency court Section 287bDebtor’s obligation to engage in gainful employment Section 288Designation of trustee Section 289Discontinuance of insolvency proceedings Section 290Refusal of discharge of residual debt Section 291Section 291 Section 292Legal status of trustee Section 293Trustee’s remuneration Section 294Equal treatment of creditors Section 295Debtor’s obligations Section 295aDebtor’s obligations in case of self-employment Section 296Contravention of obligations Section 297Insolvency offences Section 297aReasons for refusal becoming subsequently known Section 298Coverage of trustee’s minimum remuneration Section 299Expiry before date Section 300Decision on discharge of residual debt Section 300aNew acquisition during ongoing insolvency proceedings Section 301Effect of discharge of residual debt Section 302Excepted claims Section 303Retraction of discharge of residual debt Section 303aEntry in list of debtors

Part 10
Consumer insolvency proceedings▸

Section 304Principle Section 305Debtor’s request to open insolvency proceedings Section 305aFailure of out-of-court debt settlement Section 306Suspension of proceedings Section 307Service on creditors Section 308Acceptance of plan for settlement of debts Section 309Replacement of approval Section 310Costs Section 311Initiation of proceedings concerning opening of insolvency proceedings Section 312Section 312 Section 313Section 313 Section 314Section 314

Part 11
Special types of insolvency proceedings▸

Division 1 · Probate insolvency proceedings

Section 315Local jurisdiction Section 316Admissibility of opening of insolvency proceedings Section 317Persons entitled to request opening of proceedings Section 318Entitlement to make request for joint marital property Section 319Submission deadline Section 320Reasons for opening Section 321Execution following succession Section 322Contestable transactions on part of heir Section 323Heir’s expenses Section 324Debts incumbent on estate Section 325Obligations incumbent on estate Section 326Heir’s claims Section 327Lower-ranking obligations Section 328Restituted objects Section 329Reversionary succession Section 330Purchase of deceased’s estate Section 331Simultaneous insolvency of heir

Division 2 · Insolvency proceedings relating to joint marital property of continued community of property

Section 332Referral to insolvency proceedings opened for estate

Division 3 · Insolvency proceedings relating to jointly administered marital property of a community

Section 333Right to file request. Grounds for opening proceedings Section 334Personal liability of spouses

Part 12
International insolvency law▸

Division 1 · General provisions

Section 335Principle Section 336Contract on immovable Section 337Employment Section 338Set-off Section 339Contesting transactions in insolvency proceedings Section 340Organised markets. Pension transactions Section 341Exercising creditor rights Section 342Return. Imputation

Division 2 · Foreign insolvency proceedings

Section 343Recognition Section 344Preservation measures Section 345Publication Section 346Land register Section 347Proof of appointment of administrator. Notification of court Section 348Insolvency court with jurisdiction. Cooperation between insolvency courts Section 349Realisation of immovables Section 350Performance in debtor’s favour Section 351Rights in rem Section 352Interruption and joinder of action Section 353Enforceability of foreign judgments

Division 3 · Territorial insolvency proceedings relating to domestic assets

Section 354Conditions for territorial insolvency proceedings Section 355Discharge of residual debt. Insolvency plan Section 356Secondary insolvency proceedings Section 357Cooperation between insolvency administrators Section 358Surplus resulting from final distribution

Part 13
Entry into force▸

Section 359Referral to Introductory Act

Part 1 · General provisions › Section 7

Section 7

(repealed)

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EU legislation sourced from the Official Journal of the European Union via EUR-Lex; German federal statutes sourced from gesetze-im-internet.de (Bundesministerium der Justiz / Bundesamt für Justiz). eucite is an independent reference index, not an official publication of either — always confirm against the official source for legal purposes.