Differentiation

Persons not registered in the commercial register

Only such assets of the debtor are seized and liquidated as are necessary to satisfy the creditor

Multiple creditors can take part in such action. Debt enforcement against persons not registered in the commercial register doesn’t result in the total liquidation of all the debtor’s assets.

Persons registered in the commercial register

Creditors can force a debtor with unpaid due debts into bankruptcy if they file a bankruptcy action in the bankruptcy court. This procedure is only available against persons and companies registered in the commercial register.

As a result, all debts become due immediately and all creditors participate. All assets of the debtor are liquidated to satisfy all debts.

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