Bankruptcy plan

Insolvency plan - With the help of the insolvency plan (it replaces the previous settlement procedure), the best possible satisfaction of the creditors or the continuation of the company should be achieved (§ 217 InsO). The insolvency plan shows which measures are to be taken in the future and what effects these will have on the creditors.

Section 222 InsO provides for the formation of groups of creditors, which means that creditors with equal claims either work out the insolvency plan together or agree to it on the basis of the majority principle.

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