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Section 46c

Time limits under insolvency law and questions of liability

(1) The time limits to be calculated under sections 88 and 130 to 136 of the Insolvency Code from the day of the application for the opening of insolvency proceedings are to be calculated from the day a measure under section 46(1) is issued.
(2) It is presumed that performances by the institution, made between an order of the Federal Institute under section 46(1), second sentence, points 4 to 6, and the insolvency application, and permissible under section 46, do not disadvantage the institution's creditors and are consistent with the diligence of a prudent businessperson. The Federal Institute acts dutifully in its activity, insofar as, in exercising its powers, it could reasonably assume, on the basis of appropriate information, that it could achieve the objectives of the Act. Section 4(4) of the Act Establishing the Federal Financial Supervisory Authority remains unaffected.

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