Jim
I still don't know if anyone filed on behalf of the company. See below from your translation:
"13 in 705/06 in the insolvency application procedure about the property of the Globetel Wireless Europe GmbH, Riemenstrasse 30, 74906 baths Rappenau, vertr. d .: Klaus Bonn, Riemenstrasse 30, 74906 baths Rappenau, (managers) was arranged on 03.11.2006, at 11.00 o'clock, for the protection of the future insolvency mass and to the clarification of the circumstances (§§21, 22 InsO):"
Can you tell me if this definitely means Klaus Bonn filed an "insolvency procedure" on behalf of GTW or on behalf of himself?
"Orders of the debtor about the objects of her property are effective only with approval of the temporary insolvency governor (§21 paragraph 2 No. 2 InsO)"
I don't understand the debtor being described as "her". Not knowing anything about the German language or custom, are companies routinely described in the feminine form? There may be some things lost or confusing in translation. Are you a native German? You might have answered that already but , if you did, I missed it.
"To the debtors of the debtor (third debtors) is forbade to pay to the debtor. The temporary insolvency governor is authorized to draw bank balance and other demands of the debtor as well as to accept detailed money. The third debtors are asked to perform only considering this arrangement (§23 paragraph 1 sentence 3 InsO)."
Generally speaking, this is pretty much how things are done in the US. In that case, it's a court appointed trustee (governor in the above description) who manages the outlays and receipts. It's interesting that the words "temporary insolvency" are used in this filing. My guess is that it might take on the general character of a US Chpt 11 as opposed to a Chpt 7. Of course I'm just guessing because, in a Chpt 11, the debtor remains in possession of the company's affairs. I don't know anything about German insolvency proceedings. There might be major differences.
BTW, I'm not an attorney, but I did stay at a Holiday Inn Express last night.
