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Part 3 · Effects of opening insolvency proceedings  ›  Division 1 · General effects › Section 84

Liquidation of company or community

(1) If a community, another ownership in common or a company without legal personality exists between the debtor and third parties, any distribution or other liquidation is effected outside the insolvency proceedings. The third parties may claim separate satisfaction from the debtor’s share determined under such distribution or liquidation to settle any claims arising from the community, ownership in common or company without legal personality.

(2) An agreement excluding the right to liquidate a community for ever, for a limited period or for a period of notice to be given has no binding effect on the insolvency proceedings. The same applies to a clause in the deceased’s will with a similar content and binding on the community of heirs and to a similar agreement among the members of a community of heirs.

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