No obstruction
The prohibition of obstruction (prohibition of handicaps) is defined in Section 245 of the Insolvency Code (InsO).
In the course of an insolvency , an insolvency plan can be used to try to secure the continued existence of the company . This plan is now presented by the voting groups of creditors specified in the insolvency plan for discussion and voting ( Section 235 InsO).
Insofar as creditors with different legal status are concerned, these groups are defined in accordance with Section 222 InsO. According to this, at least the three groups of creditors entitled to separate, non-subordinate insolvency creditors (regular) and subordinate insolvency creditors must be formed. In addition, further groups can be formed from the aforementioned groups with the same legal status by using similar economic interests as a second selection criterion. If there are still employees with not insignificant demands, an extra group must be formed for them. Groups can also be formed for people of little faith.
In order to accept the insolvency plan, it is now necessary that in each group more than half of the creditors agree and the sum of the claims that the agreeing creditors have also amounts to more than half of the total claim of the respective group ( Section 244 InsO).
If the required majorities for approval of a group do not come about, approval for the insolvency plan is still considered to have been given if the creditors of the group with a plan are not likely to be worse off than without a plan (prohibition of worse position), if the creditors are reasonable in economic value be involved according to the insolvency plan and the majority of the voting groups approve the insolvency plan ( Section 245 (1) InsO).
This regulation can be necessary, for example, if groups of creditors do not want to give consent to the insolvency plan for strategic reasons, although they would not suffer any economic disadvantage as a result. In order to be able to counteract such behavior, the prohibition of obstruction was included in the law. This counteracts strategic behavior in such a way that it does not hinder the implementation of the insolvency plan if non-economic considerations lead to the rejection of the insolvency plan.
