!!!Ausgleich, gerichtliches Verfahren

Insolvency Settlement (composition), judicial proceedings in which 
creditors make concessions to an insolvent debtor; creditors usually 
write off a part of their receivables and agree to extend credit to 
the debtor for the remaining debts.

!Further reading
R. Holzhammer, Oesterreichisches Insolvenzrecht, 
%%sup 5/%1996; J. Erber, ABC des Insolvenzrechtes, %%sup 4/%1998.


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