Gläubigerinformation in der Insolvenz

Michael Heese has developed the first system of creditors' information in insolvency on the basis of German constitutional law and a comparative analysis of American insolvency law in the form of the Bankruptcy Code. From a creditor's perspective, information in a case of bankruptcy is the basis for enforcing claims, for participation in the proceedings, and for the transparency of the proceedings. Michael Heese provides a comprehensive analysis of the shortcomings of the current restrictive prevailing opinion in Germany regarding information as expressed in legislation, judicial opinions, and scholarly commentary. His analysis is based primarily on the goals of the information system, the constitutional guarantees which must be considered when implementing these goals, and a comparison with American law. The author's observations regarding the weaknesses in current German law result in his suggestions for legislative reforms to the extent that the weaknesses cannot be addressed in a manner that conforms to the existing system.