Part Eleven – International Insolvency Law

Chapter Two – Foreign Insolvency Proceedings

Section 351 – Rights in Rem

(1) Commencement of the foreign insolvency proceedings shall not affect the right of a third party in an asset of the insolvency estate that was situated on domestic territory at the time of commencement of the foreign insolvency proceedings which grants entitlement to segregation or to separate satisfaction under domestic law.

(2) Notwithstanding section 336 sentence 2, the effects of foreign insolvency proceedings on the debtor’s rights in immovable assets that are situated on domestic territory shall be determined in accordance with German law.

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German Insolvency Code / in force since 29. December 2016