- A mere temporary liquidity shortage exists if the debtoris " expected"and " soon"
- to be able to pay their due debts in full. Taking creditor interests into account, and in the absence of special circumstances, a maximum period of three months is to be assumed within which the liquidity shortage must be resolved.
- A longer period, up to a maximum of about five months, requires that the elimination of the liquidity shortfall can be expected with near certainty.
- Section 69 of the Insolvency Code (IO) is a protective law within the meaning of Section 1311 of the General Civil Code (ABGB) for the benefit of all creditors of the company who have suffered losses due to the failure to open insolvency proceedings in a timely manner.
- Even if assets exceed liabilities, a limited liability company (GmbH) may be considered insolvent if liquid funds cannot be procured quickly enough.
Section 69 of the Insolvency Code (IO) is a protective law within the meaning of Section 1311 of the General Civil Code (ABGB) (RS0065125) for the benefit of all creditors of the GmbH who have suffered losses due to the failure to open insolvency proceedings in a timely manner (RS0027441). With regard to "existing creditors," this provision aims to protect against a deterioration in the dividend rate caused by the delay in filing for insolvency (RS0122035).
