Section 1 of the German Insolvency Act defines the comprehensive goal of the insolvency procedure as the satisfaction of all the claims of a debtor’s creditors jointly, by either realizing the assets of the debtor and dividing the proceeds or by reaching a divergent arrangement, whereby the business continues to exist.
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© 2008 Springer-Verlag Berlin Heidelberg
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Nacke, R. (2008). The Law of Insolvency and Security Interests. In: Wendler, M., Tremml, B., Buecker, B. (eds) Key Aspects of German Business Law. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-540-68577-7_11
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DOI: https://doi.org/10.1007/978-3-540-68577-7_11
Publisher Name: Springer, Berlin, Heidelberg
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