Page - 192 - in Austrian Law Journal, Volume 2/2021

ALJ 2021 Nunner-Krautgasser/Weidinger 192 (but not bankruptcy proceedings or – in the case of the debtor being a consumer – debt settlement proceedings); however, as has already been mentioned, reorganisation proceedings are limited to entrepreneurs and legal entities.94 As stated above, the time of the filing of the application is decisive for the assessment of entrepreneurial status; therefore, if the enterprise has already been completely shut down at the time of the filing, the debtor is regarded as a consumer.95 The origin of the liabilities is irrelevant; they may therefore stem from the entrepreneurial activity.96 Since the IRÄG 2017, a previous attempt at an out-of-court settlement is no longer required to enter into debt settlement proceedings.97 The term "insolvency" is not legally defined.98 According to case law,99 insolvency occurs if the debtor is no longer in a position to pay his due liabilities; he must also be unable to procure the necessary funds within a short period of time.100 If the debtor can meet 95% or more of his liabilities, it can be assumed that he is (still) solvent; however, if the debtor is unable to meet more than 5% of his due liabilities, he is considered to be insolvent.101 In this context, the insolvency must be present for some time, and is therefore to be distinguished from a mere stagnation of payments ("Zahlungsstockung").102 The latter is the case when the debtor is currently unable to pay his due debts, but is very likely to be able to do so in the near future. Case law generally assumes a maximum period of three months to constitute only a stagnation of payments (and thus not insolvency). An even longer period of time would require that the likelihood of the due debts being paid borders on certainty.103 Furthermore, insolvency cannot be excluded solely by the fact that the debtor still pays the claims of individual creditors; however, insolvency is not assumed if a restructuring of the debt is possible and a financing commitment has already been given for this purpose.104 In the case of a creditor application, the condition of insolvency is carefully examined by the insolvency court.105 94 Kodek, Insolvenzrecht2 Rz 540; Rechberger/Seeber/Thurner, Insolvenzrecht3 Rz 68; Schneider, Privatinsolvenz3 10. 95 LGZ Wien 47 R 106/06w ZIK 2006/164, 131; LG Innsbruck 2 R 300/95 ZIK 1995, 120; Schneider in Koller/Lovrek/Spitzer, IO § 182 Rz 7. 96 OLG Innsbruck 1 R 214/95 ZIK 1995, 160; Dellinger/Oberhammer/Koller, Insolvenzrecht4 Rz 496; Schneider in Koller/Lovrek/Spitzer, IO § 182 Rz 9. 97 Fadinger, JAP 2017/2018, 168 (169); Mohr, Privatinsolvenz3 Rz 8; Nunner-Krautgasser, ZinsO 2017, 2525 (2527); Riel, AnwBl 2017, 275 (276); Dellinger/Oberhammer/Koller, Insolvenzrecht4 Rz 482; Konecny, ecolex 2017, 1160 (1161); Mohr, ZIK 2017, 97 (97). 98 Nunner-Krautgasser in Nunner-Krautgasser/Reissner 1 (15); Kodek, Insolvenzrecht2 Rz 212; Rechberger/Seeber/Thurner, Insolvenzrecht3 Rz 61. 99 RIS-Justiz RS0064528; OGH 8 Ob 118/11b RdW 2012/168 = ZIK 2012/157 = ecolex 2012/212; 3 Ob 99/10w EvBl 2011/105 (Konecny) = ÖBA 2011/1747 (Bartlmä). 100 Kodek, Insolvenzrecht2 Rz 213 et seq; Nunner-Krautgasser in Nunner-Krautgasser/Reissner 1 (15); Mohr, Privatinsolvenz3 Rz 39; Schneider, Privatinsolvenz3 10; Rechberger/Seeber/Thurner, Insolvenzrecht3 Rz 61. 101 RIS-Justiz RS0126559; OGH 3 Ob 99/10w ÖJZ EvBl 2011/105, 726 (Konecny) = ÖBA 2011/1747, 742 (Bartlmä); 2 Ob 117/12p ZIK 2013/174, 117; Rechberger/Seeber/Thurner, Insolvenzrecht3 Rz 62. 102 Rechberger/Seeber/Thurner, Insolvenzrecht3 Rz 63; Kodek, Insolvenzrecht2 Rz 214. 103 RIS-Justiz RS0126561; OGH 3 Ob 99/10w; Schuhmacher, Neues zur Zahlungsunfähigkeit und Zahlungsstockung, ÖBA 2012, 816 (816); Kodek, Insolvenzrecht2 Rz 214. 104 Rechberger/Seeber/Thurner, Insolvenzrecht3 Rz 62; Schneider, Privatinsolvenz3 10; Mohr, Privatinsolvenz3 Rz 39 et seq. 105 Schneider, Privatinsolvenz3 11; Mohr, Privatinsolvenz3 Rz 39.