Cluster 2: Property law - Insolency and new objects
6 important questions on Cluster 2: Property law - Insolency and new objects
What happens upon the event of insolvency?
What happens upon the casse of insolvency: bankruptcy?
2. The bank goes to court and declares you bankrupt
3. During bankruptcy you are legal owner but everything you own, all your assets, is sold off to pay off all your debts as far as possible.
4. It only contains your assets, so things you barrow are not part of this. That also means that the creditors only get 50% of their claim.
5. What happens after depends on the jurisdiction: Sometimes the insolvency is settled, sometimes it continues to exist.
Why are property security rights much more stronger than contractual security rights?
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Why are there restrictions in relation to creation an content of property rights?
What happens with a pledge in bankruptcy?
Why do banks rely on security rights?
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- Never study anything twice again
- Get the grades you hope for
- 100% sure, 100% understanding
