Recent changes in German insolvency law – position of creditors in preliminary proceedings strengthened
By Dr. Karl Friedrich Dumoulin, FPS Rechtsanwälte & Notare
With effect from 1 March 2012, new provisions were implemented in German insolvency law. They strengthen the position of creditors in preliminary proceedings prior to the appointment of an insolvency administrator and the commencement of insolvency proceedings. Creditors of the debtor in insolvency now have the following options to influence the appointment of the insolvency administrator.