Expert |
provisional Insolvency Administrator( vorläufiger Insolvenzverwalter) |
Insolvency Administrator( Insolvenzverwalter) |
Trustee( Treuhänder) |
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Creditor
Debtor
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REGULAR PROCEEDING
SELF ADMINISTRATION
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COURT
appoints
appoints
apppointed by Court to check:
• need for measures to safeguard assets / business
• reason( s) to open proceeding
• whether costs of proceeding are covered by assets
ins olvency
filing
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regularly additional check:
• preconditions for self adminstration met?
safeguards status quo / assets supports pos sible going concern
• stay of enforcement
• res ervation of approval
• pot. individual powers( e. g. debt collection)
• pot. full power of disposal over debtor‘ s assets
J u d g e
provisional insolvency proceeding prel. self administration /“ safeguard”
J u d g e
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„ weak“ p. Adm.(= regular case)
„ strong“ p. Adm.
opening of
proceeding
full power of disposal over debtor‘ s seizable assets
ASSETS
• appropriation and inventory
• realisation( pot. acc. to dec is ions of creditors)
• assertion of insolv ency related claims
LIABILITIES
insolvency proceeding potential insolvency plan proceeding
• verifies the debtor‘ s economic situation, monitors the management and indicates, if self administration bec omes disadvantegeous for creditors.
• shall consent or contradict new liabilities, may take over cash management and exercise pot. res ervation of consent to debtor‘ s disposals.
• works out insolvency plan, if commissioned by creditors‘ committee or assembly
• notification of creditors
• rec eive / verify claim lodgments
pot. DISTR IBUTION
R e g i s t r a r
pot. INSOLVENCY PLAN
R e g i s t r a r
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liquidation or restructuring
termination of
proceeding
• rec eives and verifies claim lodgments.
• asserts insolv ency related claims.
• monitors / supports debtor with the execution of insolv ency specific rights( �� 103 ff InsO).
• Comments on debtor‘ s reports and rendering of accounts.
• indicates pot. Insufficiency of the estate.
• comments and monitors pot. insolv ency plan set up by the debtor.
• collects the debtor‘ s seizable earnings and distributes to creditors( af ter covering costs of proceeding).
• monitors whether debtor fulfils obligations( if commissioned by creditors to do so).
Registrar
individuals: discharge proceeding
Registrar
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SUPERVISON:
Insolvency Court pot. creditors‘ committee creditors‘ assembly
Insolvency Court
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