Decision on an insolvency plan

The insolvency court checks whether the provisions on the submission and content of the insolvency plan have been complied with. If this is the case and the necessary majorities in the creditors' meeting agree, this will be confirmed by the insolvency court.

Both the insolvency administrator and the debtor are entitled to submit an insolvency plan to the insolvency court (see also the text "Insolvency plan" or insolvency plan as a restructuring instrument).

After a corresponding submission, the insolvency court examines the insolvency plan. The insolvency court rejects the submitted insolvency plan ex officio (i.e. on its own) if, among other things,

  • the provisions on the right to submit and the content of the plan, in particular on the formation of groups (including the division of the parties according to their legal status, e.B general and subordinated insolvency creditors) are not complied with and the referring party is unable to remedy the defect or does not remedy it within a reasonable period set by the court,
  • a plan submitted by the debtor manifestly has no prospect of acceptance by the parties or confirmation by the court, and/or
  • the satisfaction of the parties provided for in the plan submitted by the debtor is manifestly not possible.

If the court does not reject the plan, it seeks comments from certain parties to the proceedings (including the creditors' committee, works council, insolvency debtor or insolvency administrator).

The insolvency plan, together with annexes and statements in the registry of the insolvency court, is interpreted for inspection by the parties to the proceedings.

In a discussion and voting date determined by the insolvency court, the submitted insolvency plan and the voting rights of the parties involved are then discussed and voted on on the adoption of the plan. Each group of parties entitled to vote votes separately on the insolvency plan, whereby it is possible to carry out the vote in writing if the voting date is not linked to the date for discussion of the plan.

In order to adopt the plan, it is necessary that in each group the majority of voters agree to the plan (head majority) and the sum of the claims of the voters is more than half of the sum of the claims of the voters (total majority).

After the parties have accepted the plan, the insolvency court must confirm it. The insolvency court must refuse to confirm of its own motion (i.e. on its own) if:

  • the rules on the content and procedural treatment of the insolvency plan, as well as on the adoption by the parties and the consent of the debtor, have not been complied with on a material point; and
  • the defect cannot be remedied, or
  • the adoption of the plan has been brought about unfairly, in particular by favouring a party.

Also, at the request of a creditor or a person involved in the debtor, the confirmation of the insolvency plan may be refused by the court if the applicant objects to the plan at the latest at the voting date and credibly demonstrates that the plan will place him or her in a worse position than without a plan.

With the legal force of the confirmation of the plan, the effects specified in the formative part for and against all parties involved including insolvency creditors who have not registered their claims or parties who have objected to the plan occur.

The insolvency creditors may enforce the debtor from the legally confirmed insolvency plan in conjunction with the table entry as well as from an enforceable judgment.

  • Insolvency plan
  • Necessary planned investments within the meaning of §§ 229 f. InsO, such as in the event that the payments to the insolvency creditors are to come from the income of the continuing company:
  • Balance sheet (§ 229 InsO),
  • Revenue-expenditure forecast for the planned period,
  • if necessary. declaration by the debtor of the debtor or the general partner that they are prepared to continue the business on the basis of the plan (§ 230 para. 1 InsO),
  • declarations of consent by creditors who wish to take over share or membership rights or participations in a legal person (§ 230 para. 2 InsO),
  • if applicable, a declaration by a third party who has assumed the assumption of obligations towards the creditors in the event of confirmation of the plan


  • (present) Application for the opening of insolvency proceedings
  • Insolvency plan, consisting of a representing and a formative part, as well as the necessary annexes to the insolvency plan
  • Submission of the insolvency plan by an authorised person (insolvency administrator, insolvency debtor)
  • Compliance with the legal requirements for the content of the insolvency plan, in particular for the proper formation of groups in the insolvency plan

Related Links

  • §§ 217 ff. Insolvency Code (InsO)
  • The insolvency debtor or the insolvency administrator writes an insolvency plan including the necessary planned investments (see text "Insolvency plan" or insolvency plan as a restructuring instrument).
  • The prepared insolvency plan must be submitted with the complete attachments to the competent insolvency court. The insolvency court then examines the documents submitted, in particular whether the provisions on the right to submit and the content of the plan are complied with.
  • If the examination result is positive for the submitter, the insolvency court usually sets a discussion and voting date in which the entitled persons vote on the insolvency plan after the discussion.
  • If the necessary majorities are achieved, the insolvency court gives the insolvency debtor or.dem the insolvency debtor and the creditors' committee, if one has been appointed, the opportunity to comment. Finally, the court if the conditions are met confirms the insolvency plan.

Responsible for the content
Lower Saxony Ministry of Justice

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