Insolvency of a person: chance and new beginning?

Insolvency – Insolvency reveals the insolvency or threatened insolvency of a person. One speaks of insolvency when the debtor cannot meet 90% of his obligations within 4 weeks. If this is the case, insolvency proceedings are opened. In these proceedings, the debtor’s assets are liquidated by an insolvency administrator and the proceeds are distributed to the creditors.

Insolvency at a glance: Chance for a fresh start

  • Reveals insolvency of a person
  • Debtor cannot fulfil 90% of his obligations within 4 weeks
  • In insolvency proceedings, the debtor’s assets are realised and the proceeds distributed to the creditors.

Back to the wiki: Real Estate

How useful was this post?

Click on a star to rate it!

Average rating 0 / 5. Vote count: 0

No votes so far! Be the first to rate this post.