Gant (right)

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The Gant (also Vergantung or Gantung , older Gandt ) is an outdated term from foreclosure or insolvency law from southern Germany , Austria and Switzerland . The term is rarely used by the authorities. Only in the phrase used in these regions to come up with the Gant is it still alive and then means something like have run down or go bankrupt . The verb verganten (or verquanten ; = verramschen , sell or go bankrupt ) is used less often.

Gant has the meanings bankruptcy , (public) auction or foreclosure auction (Germany) . The exact origin is uncertain, but it probably comes from the Latin in quantum , which means “how much? how expensive? ”( Italian incanto , French encan ).

Gant therefore refers to the public forced sale by court, namely the public sale of the goods of an overindebted person. This process was also known as the Gant process (in today's sense a bankruptcy process). With Gantmann , Gantner (derogatory) or also Gantschuldner one means those who have become bankrupt. The auction house was called the Ganthaus (Gantlokal is still common in some places), the Gantmeister was the auctioneer . As a rule, the repudiation was carried out by the repudiation office (in Switzerland by the debt enforcement office or the bankruptcy office ).

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