1. Starting point: Insolvency scenarios, legal and economic impact of insolvency on company pension schemes
Insolvency proceedings against the employer’s assets (insolvency debtor) are initiated if one of the grounds for insolvency as defined in Sections 17f et. of the German Insolvency Code (Insolvenzordnung, InsO) applies (§ 16 InsO), i.e. if the insolvency debtor is either unable to pay (Section 17 InsO), at risk of being unable to pay (Section 18 InsO) or is over-indebted (Section 19 InsO). When insolvency proceedings are opened, the right of the insolvency debtor to independently manage and dispose of the assets belonging to…
