Every crisis can be a new beginning.Every crisis can be a new beginning. When you know your options.When you know your options.

The term refers to insolvency procedures connected to an EU member state. The available procedure and its effects depend on the applicable law and individual circumstances.

No. Your living and working situation, the nature of your debts and your goals are the starting point. Only then can realistic options be assessed.

COMI stands for Centre of Main Interests. International jurisdiction depends on actual circumstances that third parties can recognise. A registered address alone is not automatically sufficient.

Working is generally possible and often part of your obligations. Germany deducts attachable employment income according to its table. Ireland allows reasonable living expenses; income contributions can continue beyond the one-year bankruptcy discharge. Swiss wage attachment leaves individually assessed subsistence needs. Self-employment requires additional assessment.

Income, property, vehicles, accounts and shareholdings need a complete inventory. Ordinary German tax debts are not generally excluded from discharge; certain final tax-crime convictions trigger section 302 InsO. Swiss personal bankruptcy does not automatically cancel unpaid debts. Asset protection and discharge therefore require separate assessment.

Total time includes advice and preparation. Germany’s standard three-year assignment starts at opening, after the settlement attempt. Irish bankruptcy normally provides discharge after one year, but income contributions may last three years. Swiss personal bankruptcy has no comparable automatic discharge deadline. Comparing headline durations alone would hide these differences.

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Personal insolvency concerns an individual; corporate insolvency concerns a company. Personal guarantees or directors’ liability can exist alongside the company’s debts and need separate assessment.

Yes. A statutory procedure before a court with actual jurisdiction is a regular legal route. False statements, sham residence or concealed assets create serious risks.

The EU Insolvency Regulation governs recognition of covered proceedings among participating member states. Jurisdiction, procedure and the effect of the decision matter; not every claim is automatically discharged.

It can offer an orderly alternative to persistently unmanageable debt. Settlement, restructuring, effects on income and assets, and the overall personal effort should first be compared.

Irish bankruptcy normally provides discharge after one year and central administration by the Official Assignee. Actual eligibility, potential asset realisation and income contributions must also be considered.

Discharge is normally after one year. Income contributions can last up to three years and non-cooperation can delay discharge. Preparation and establishing eligibility are additional.

After the court adjudicates bankruptcy, the Official Assignee performs the statutory administration. The claims covered and how to deal with further correspondence need individual clarification.

Yes. Public information and registers exist. EU insolvency must therefore not be presented as invisible or guaranteed to remain secret.

A registered address alone is insufficient. Article 3 of the EU Insolvency Regulation concerns the actual centre of interests as ascertainable by third parties. For non-self-employed individuals moving between member states within six months before filing, the residence presumption does not apply. This is neither an automatic waiting period nor guaranteed eligibility after six months.

Actual residence, work, tax circumstances and connections apparent to third parties may be relevant. Individual documents cannot replace a coherent real situation.

These connections form part of the jurisdiction assessment. Any change must fit your actual centre of interests and your family, work and tax obligations.

A personal discussion establishes the assessment, document organisation and coordination with local professionals that can be offered. Scope, responsibilities and costs belong in a clear engagement agreement.

It can be assessed if the actual jurisdiction and eligibility requirements are met. A Swiss address or nationality alone does not establish EU jurisdiction. Effects on Swiss creditors require separate consideration.

Foreign creditors and claims must be included in the assessment. Whether discharge affects Swiss claims and has effect in Switzerland depends on the procedure, claim and recognition rules.

No. Unpaid claims can survive in bankruptcy certificates of loss. They generally have a twenty-year limitation period, which can be interrupted. If enforcement resumes, an objection based on lack of new assets may matter. It is not automatic and does not protect against debts arising after bankruptcy.

No. Nationality does not replace actual international jurisdiction or statutory eligibility. Your individual personal and economic circumstances matter.

A personal guarantee may survive a company’s insolvency. Who owes which debt and whether it can be included in personal debt relief must be assessed separately.

The basis, scope and timing of alleged liability are important. Company, tax and criminal law can overlap and require appropriately authorised professionals.

There is no blanket assurance. Security rights can remain, certain penalties are excluded and new debts do not simply become dischargeable old debts. Rules differ by country and procedure.

Tell the responsible professional immediately about incomplete or new information. The remedy and consequences depend on the procedure, timing and reason for omission.

Germany uses a statutory basic amount, maintenance additions and an attachment table. Ireland uses reasonable living expenses rather than a directly comparable German allowance. Swiss subsistence needs combine a basic amount with recognised expenses. The country answers below give German figures and a Zurich example; do not compare basic amounts without housing and family costs.

Ownership, security, value and necessary use must be disclosed. Realisation, exemptions or retention through a payment plan depend on the applicable rules.

Assets and interests must be fully disclosed to the responsible authorities. A foreign location or different legal form does not automatically make them irrelevant.

A professional or business restart may be possible. Procedure obligations, restrictions on management roles and financing should be clarified first.

Alongside agreed fees, consider courts, administrators, translations, travel, housing and living costs. Income contributions and personal time also belong in a realistic comparison.

The engagement agreement is decisive. It should clearly identify services, contractual parties, third-party work, payment dates and possible additional costs.

Prepare a creditor list with addresses, reference numbers, amounts and grounds. Add payslips, tax assessments, bank statements, assets, interests, security and maintenance duties. German consumer insolvency also requires evidence of the failed settlement attempt and the settlement plan. Disputed and foreign claims should be identified in the initial inventory.

Advice, court representation and statutory administration are different roles. A personal discussion clarifies contacts and cooperation with local professionals.

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The standard assignment period is three years from opening. The good-conduct phase does not add a fourth year. Advice, settlement attempts and filing come beforehand. Certain repeat proceedings have a five-year period; eligibility to apply again requires separate assessment.

From 1 July 2026, the monthly basic amount is €1,587.40. Qualifying statutory maintenance adds €597.42 for the first person and €332.83 for each of the second to fifth persons. Adjusted net income and the attachment table determine the deduction. Earnings above the allowance are not automatically taken in full.

Yes. Following personal advice, a qualified person or body must certify that an out-of-court debt settlement plan failed within the six months before filing. This is not a six-month waiting period. Lists of creditors, claims, income and assets are also required.

Currently self-employed people generally use regular insolvency. Formerly self-employed people may use consumer insolvency if they have fewer than 20 creditors at filing and no claims arising from employment relationships. Individuals can also request discharge in regular insolvency.

Section 302 InsO excludes, among other things, criminal fines, intentional tort liabilities and statutory maintenance intentionally withheld in breach of duty. Tax debts are excluded when connected with a final conviction under sections 370, 373 or 374 AO. Ordinary tax arrears are therefore not automatically excluded; the creditor’s filing also matters.

Individuals requesting discharge may apply to defer procedural costs if their assets are insufficient. The court checks eligibility. Deferral postpones payment; it is not automatic cancellation. It does not generally cover a privately agreed advisory fee.

There is no single total for everyone. Zurich’s guidelines give a basic amount of CHF 1,200 for someone living alone and CHF 1,700 jointly for a married couple. Recognised housing, compulsory health insurance and necessary work expenses are added. Household circumstances, evidence and cantonal practice determine the calculation.

If enforcement resumes for a pre-bankruptcy claim, the debtor may expressly raise lack of new assets in the objection to the payment order. The court considers savings and income from which assets could have been accumulated. This protection does not cover new debts.

As of 10 September 2026, the Federal Office of Justice says the new restructuring procedures cannot yet be used. A transition period is needed for cantonal implementation before commencement. Until then, personal bankruptcy must not be presented as automatic discharge. No commencement date is assumed here.

The temporary three-year repayment-plan rules for consumers expired at the end of 16 July 2026. Transitional protection covers relevant applications received by the court before 17 July 2026. New consumer cases generally face five years of assignment under the levy plan; payment agreements and rules for entrepreneurs require separate assessment.

In 2026, Spain’s minimum wage is €1,221 monthly with 14 payments, or €17,094 annually. Article 607 LEC generally protects income up to the relevant minimum wage, with graduated deductions above it. Twelve-payment arrangements and extra payments require adjustment. The monthly figure is not a universal net-income threshold.

The Latvian insolvency authority states a minimum creditor payment of €260 monthly during discharge from January 2026: one third of the €780 minimum wage. An initial €1,560 deposit covers administrator remuneration. These figures are neither a total price nor necessarily your full monthly payment.

On 20 January 2025, the court upheld recognition of the Irish opening decision. German recognition proceedings do not allow a fresh review of Irish jurisdiction. Objections generally belong before the opening court. This concerns opening proceedings, not discharge, and does not authorise false statements.

Yes. In its judgment of 23 February 2024, the Düsseldorf Fiscal Court recognised the extinction of the tax claims concerned through Irish discharge. Missing individual notification did not prevent recognition in the particular circumstances. This is not a blanket waiver of all taxes; claims, procedure and exceptions require review.

Recognition may be refused where its outcome is manifestly incompatible with fundamental public-policy principles. In 2015, the BGH stressed mutual trust: jurisdictional objections generally belong in the opening state. The case concerned England under the former EU Insolvency Regulation, not new British applications today.

The Koblenz court did not regard a genuine relocation for more favourable insolvency conditions as a public-policy breach in itself. A fictitious address is insufficient. Its preliminary ruling concerned an English case predating the end of 2020; current eligibility and COMI requirements still need separate assessment.