Juristisches Internetprojekt Saarbrücken (http://www.jura.uni-sb.de)
I am very interested in the discharge clause which is often included in bankruptcy legislation.
I found your email address an the Internet site JURISTISCHES INTERNETPROJEKT SAARBRÜCKEN.
(a) I am an economist examining the effects that bankruptcy legislation can have on entrepreneurship. In particular, I am very interested in the discharge clause which is often included in bankruptcy legislation. For example, a number of countries such as the United States and the United Kingdom offer the bankrupt individual a "clean slate" by way of discharge: the entrepreneur loses his assets to his creditors but cannot be pursued for any remaining claims which have not been met.
(b) I understand that the new German Bankruptcy Law will include a discharge clause. Can you tell me when the new Law comes into effect?
(c) Does the Law free the debtor of the remainder of his debt immediately or after a period of time (if so, how many years)?
(d) Does the discharge clause apply to all his debt? Or are items such as taxes or alimony payment exempt from discharge?
I would be grateful for responses to these questions. In return, I will send you a copy of our report which will include information on other countries which may be of interest to you.