Facilitating the cancellation of the insolvency plan

In the past, the obligation to meet all undisputed unsecured claims before cancelling the insolvency proceedings gave rise to considerable difficulties in practice because invoices had still not been submitted for numerous existing liabilities, but also continuing obligations had to be kept up. According to Section 258 Para 2 InsO the administrator merely has to meet the undisputed unsecured claims before cancelling the procedure and to provide collateral for any disputed claims or claims not yet due. In the case of claims not yet due it is now also possible to submit a financing plan which guarantees that they will be honoured. 

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