Bankruptcy Code (Germany)
The bankruptcy order (KO) was a statutory ordinance of the German Reich . After the establishment of the German Empire in 1871, a uniform statutory ordinance was created, which was influenced by a draft from 1873 from the Prussian Ministry of Justice under Adolph Leonhardt for a German common school system. The focus was on the satisfaction of the creditors. The bankruptcy order appeared in the German Reich Law Gazette 1877 as number 10 in the version dated February 10, 1877.
The statutory ordinance was characterized by the principle of unlimited additional claims: If the claims in the insolvency proceedings had not been met, they could continue to be enforced after the proceedings were concluded (see individual foreclosure ). The debtor was exposed to the claims of the creditors and corresponding enforcement measures until the expiry of a thirty-year limitation period , which according to Section 218, Paragraph 1, Clause 2 of the German Civil Code (BGB) applied in particular to claims from bankruptcy proceedings . At the same time, the statute of limitations according to § 214 paragraph 1 was interrupted during the bankruptcy. This state of affairs was not only seen as unacceptable for many private debtors whose lives were without prospects or hope of recovery. The then Federal Minister of Justice, Hans A. Engelhard , reported criticism of this in 1986 . In the absence of an incentive for the debtor to become more gainfully employed, the creditors had little prospect of being able to enforce the remaining claims. The thirty-year limitation period was also adopted in the new version of Section 197 (1) number 5 BGB after the new insolvency regulation was created in 1994 . But the remaining debt was introduced for this .
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Individual evidence
- ↑ Deutsches Reichsgesetzblatt, Volume 1896, No. 21, Page 233, version of August 18, 1896
- ^ Deutsches Reichsgesetzblatt, Volume 1896, No. 21, Page 232, version of August 18, 1896
- ↑ Hans-Ulrich Heyer: Debt discharge and consumer bankruptcy in practice . Handbook for advisors and creditors. Walhalla Fachverlag, 3rd edition, Regensburg 2016, since 31
