Details of debt collection and encashment
Creditors and debtors in GermanyAny official petitioner or any person specified by the court as having suffered loss where a bankruptcy order has been made against the debtor. Where a petiton has been presented it can only be withdrawn by leave of the court. A petition may only be presented if, on the day upon which it was presented, the debtor: Is domiciled in Germany; or is personally present in Germany; or has been ordinarily resident or has had a place of residence in Germany during the previous three years; or has carried on business in Germany during the previous three years.
A creditor's petition may only be presented subject to the following, amongst other, conditions:
A debtor may present a petition to the court simply upon the ground that he is unable to pay his debts. Where there has been a composition or a scheme of arrangement any creditor, or the supervisor may present a petition for a bankruptcy order upon the following grounds: