Keinert, Patrick; Vallender, Heinz --- "GERMANY" [2019] ELECD 1205; in Kadner Graziano, Thomas; Bojars, Juris; Sajadova, Veronika (eds), "A Guide to Consumer Insolvency Proceedings in Europe" (Edward Elgar Publishing, 2019) 503

Book Title: A Guide to Consumer Insolvency Proceedings in Europe

Editor(s): Kadner Graziano, Thomas; Bojārs, Juris; Sajadova, Veronika

Publisher: Edward Elgar Publishing

Section: Chapter 14

Section Title: GERMANY

Author(s): Keinert, Patrick; Vallender, Heinz

Number of pages: 33

Abstract/Description:

The Insolvency Statute entered into force in 1999. This statute introduced the concept of discharge for natural persons to help reintegrate the debtor into the national economy. As a result of the 1999 Statute, there are now two possible avenues for natural persons: standard proceedings and consumer proceedings. The differences between standard proceedings and consumer proceedings have been mitigated following the entry into force of the Insolvency Reform 2013. Still to this day, the main difference is that a consumer must go through two additional stages before a comparable standard proceedings. Over the past few years, there have been a number of minor changes, and even more public proposals for amendment, concerning consumer insolvencies. The high number of proposals highlights the dynamism of this area of law and its importance for consumers.