Request opening of insolvency proceedings

Service Description

Insolvency proceedings are court proceedings. It is used to liquidate a debtor's assets and distribute the proceeds to his creditors. Insolvency proceedings are opened only upon a petition. The creditors and the debtor are entitled to file a petition. The opening of insolvency proceedings presupposes that there is a ground for opening the proceedings. A general reason for opening insolvency proceedings is the debtor's inability to pay.

If the debtor applies for commencement of insolvency proceedings, commencement may also take place in the event of the debtor's imminent insolvency. The insolvency court shall reject the application for commencement of insolvency proceedings if the debtor's assets are not expected to be sufficient to cover the costs of the proceedings. If the insolvency proceedings are opened, the insolvency court appoints an insolvency administrator and requests the creditors to lodge their claims with the insolvency administrator within a specified period.

Source: Zuständigkeitsfinder Thüringen (Linie6PLus)

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