Part Three – Effects of Commencement of Insolvency Proceedings
Chapter Two – Performance of Transactions. Co-operation of the Works Council
Section 120 – Termination of Works Agreements
(1) If provision is made in works agreements for benefits that burden the insolvency estate, the insolvency administrator and the works council shall consult on a mutually agreed reduction in the benefits. Such works agreements may also be terminated subject to three months’ notice, even if a longer notice period has been agreed.
(2) The right to terminate a works agreement for good cause without notice remains unaffected.