Options when a company is insolvent

Overindebtedness shall exist if the debtor's assets no longer cover his existing obligations to pay, unless it is highly likely, considering the circumstances, that the enterprise will continue to exist. A creditor's request shall be admissible if he has a legal interest in the opening of the insolvency proceedings, and shows his claim and the reason why insolvency proceedings should be opened to the satisfaction of the court. If a request for the opening of insolvency proceedings on the debtor's assets was already filed in the two years prior to the request being filed, the request shall not become inadmissible solely on account of the claim being satisfied. In such cases the creditor must also show the previous request to the...