Freight Company
A freight forwarding company has outstanding debts of €1.5 million to several creditors. Its liquid assets amount to only €600,000. One creditor, a tire supplier, immediately attempts to enforce payment and wants to collect the entire amount for itself.
Question: What legal function do the insolvency proceedings fulfill in this case, and why are they being initiated?
Current Obligations
A limited liability company has debts of €800,000 and assets of €300,000. It has been unable to meet its current obligations for several months and has no prospect of restructuring.
Car Dealership
Insolvency proceedings are opened against the assets of a car dealership. The court appoints an insolvency administrator who freezes all accounts. A supplier nevertheless attempts to demand payment of an old invoice.
Question: Will he be successful?
Fashion Company
A fashion company is insolvent. The insolvency administrator examines whether restructuring is feasible, but decides on liquidation due to high debts and a lack of orders.
Question: What happens to the company's assets in the event of liquidation, and how are the creditors satisfied?
Advertising Agency
An advertising agency owes a printing company €15,000 for a delivery that took place two months before the opening of insolvency proceedings.
Question: What type of claim is this, and how is it treated in the insolvency proceedings?
Mechanical Engineering Company
After a mechanical engineering company is declared insolvent, the insolvency administrator commissions a cleaning company to maintain the production hall.
Question: What type of claim does this create, and how is it treated in comparison to other claims?
Car Manufacturer
A car manufacturer has leased vehicles that are located at the factory but are owned by the leasing company. After the opening of insolvency proceedings, the leasing company demands the return of the vehicles.
Question: Can the leasing company demand its vehicles from the insolvency estate?
Farmer
A farmer has pledged his tractor as collateral for a loan from his bank. After the opening of insolvency proceedings, the tractor is sold.
Question: What rights does the bank have with regard to the proceeds of the sale, and how are any surpluses distributed?
insolvency proceedings
After the opening of insolvency proceedings, the insolvency administrator continues to operate a carpentry business in order to complete current orders and increase the value of the estate.
Question: What are the tasks and powers of the insolvency administrator in this phase of the proceedings?
Construction Company
After the liquidation of a construction company's insolvency estate, proceeds of €400,000 are available, while the debts amount to €1 million.
Question: How are the €400,000 distributed?