Suspension of bankruptcy proceedings
In Germany's insolvency law , the discontinuation of insolvency proceedings refers to the premature termination of the proceedings by a decision of the bankruptcy court .
The bankruptcy proceedings can be discontinued
- if the amount alone is not sufficient to cover the procedural costs, Section 207 InsO ; d. H. the bankrupt company does not have sufficient funds to cover court and / or administrative costs; Usually in this case one speaks of an attitude because of mass poverty;
- if the remaining mass debts cannot be covered in full due to insufficient mass; Mass debts are costs that arise during the ongoing proceedings;
- if the reason for opening insolvency proceedings no longer applies, Section 212 InsO;
- if an opening reason was mistakenly accepted;
- if the debtor applies for suspension and all creditors agree, Section 213 InsO.
If a creditor has a particular interest in having proceedings opened or not being discontinued because of mass poverty or inadequacy, he can make a mass advance payment.