Due to the German Insolvency Act and the jurisdiction of the Bundesgerichts-hof (German Supreme Court), revocatory actions of insolvency administrators against candid entrepreneurs seem to get out of hand. In case of an insolvency of a debitor, the creditor is often forced to depreciate all or part of his claims. In addition to that, insolvency administrators review long-time business relationships of the insolvent company and are able to reclaim payments that have been made to its business partners long before the petition for insolvency proceedings by means of revocatory action. Accordingly, insolvency administrators raise claims against two-thirds of all companies which are affected by the insolvency of a customer every year and, by that, might put the creditor himself on the line. According to a survey of the German Association of Credit Managers, the claims made are higher than Euro 100,000 in 40 percent of all cases. Business organizations [1] and politics [2] have already ...
