Execution of bankruptcy proceedings, Standard bankruptcy for companies, Standard bankruptcy for the self-employed, Standard bankruptcy for freelancers, Consumer bankruptcy for natural persons
Notes and information for bankruptcy court Insolvenzgericht Wittlich
Important notes
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Bankruptcy court information
The bankruptcy court handles the execution of insolvency proceedings according to the Bankruptcy Code. Generally, a bankruptcy court is assigned to a district court. The bankruptcy court usually reviews bankruptcy petitions so they can be denied or granted.
In general, a distinction must be made between standard bankruptcy and consumer insolvency. While the bankruptcy refers specifically to companies, consumer insolvency concerns natural persons.
Bankruptcy court services
The usual duties of the bankruptcy court include: examining bankruptcy petitions, electing and appointing and supervising bankruptcy trustees, executing debt settlement procedures, and soliciting creditors' meetings.
Rule bankruptcy generally affects businesses, professionals and the self-employed; consumer bankruptcy affects natural persons. If a natural person is insolvent and does not pursue an independent economic activity, this is called personal bankruptcy.