[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 75

Request to convene creditors’ assembly

(1) A creditors’ assembly is to be convened if requested by the following:

1.  the insolvency administrator;

2.  the creditors’ committee;

3.  at least five creditors with a right to separate satisfaction or non-lower-ranking insolvency creditors whose rights to separate satisfaction and claims together are assessed by the insolvency court to represent one fifth of the sum resulting from the value of all rights to separate satisfaction and of the claims of all non-lower-ranking insolvency creditors;

4.  one or more creditors with a right to separate satisfaction or non-lower-ranking insolvency creditors whose rights to separate satisfaction and claims together are assessed by the insolvency court to represent two fifths of the sum referred to in no. 3.

(2) The period between receipt of such request and the date of the creditors’ assembly is, as a rule, to be no longer than three weeks.

(3) If the insolvency court refuses an order convening a creditors’ assembly, the requesting party may bring an immediate appeal.

←→ also move between sections