It is not unusual for creditors to find themselves in the situation where debtors do not acquit their liabilities towards them and consequently the existing claims against them have to be compulsorily enforced.
Cologne, NRW -- (SBWIRE) -- 02/06/2013 -- GRP Rainer Lawyers Tax Advisors, Cologne, Berlin, Bonn, Düsseldorf, Frankfurt, Hamburg, Munich, Stuttgart, Hanover, Bremen, Nuremberg, Essen and London www.grprainer.com/en explain: The path to attaching debtor’s claims only represents one of the creditor’s possibilities for enforcing his rights. The law of compulsory enforcement provides creditors with yet more ways to facilitate the enforcement of their claims. The legal basis for compulsory enforcement is found in the Code of Civil Procedure (Zivilprozessordnung (ZPO)), in which its requirements are regulated. These must be satisfied so that the creditor can attach debtor’s claims.
If these requirements laid out in the ZPO are satisfied according to a legal examination, then the attachment of a debtor’s claim can be arranged. In this connection, prospective claims that have already been legally laid out can constitute the object of the attachment. Moreover, several claims can also be attached in a single application.
This application, in which the claim concerned is to be precisely defined, must be presented to the competent court responsible for execution. It should be noted here that the senior judicial officer responsible for the attachment of claims does not review the existence of the claim. In order to prevent the failure of the attachment in the absence of the claim, caution is advised when selecting possible debtor’s claims. In principle, all claims that the debtor is entitled to are suitable for attachment. However, by their nature specific peculiarities can arise that ought to be observed, for example in the case of earned income which presents only limited possibilities for attachment.
Over the course of the attachment, the debtor shall be faced with an order of attachment and transfer. The creditor is thereby accorded a selection of different payment arrangements and the debtor must comply with the creditor’s choice.
In this instance, legal advice is vital. Creditors should therefore seek out a qualified lawyer so that they are able to successfully proceed against their debtors.
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GRP Rainer LLP http://www.grprainer.com/en/ is an international firm of lawyers and tax advisors who are specialists in commercial law. The firm counsels commercial and industrial companies and corporations, as well as associations, small- and mid-sized businesses, self-employed freelancers and private individuals worldwide from offices Cologne, Berlin, Bonn, Dusseldorf, Essen, Frankfurt, Hamburg, Hannover, Munich, Stuttgart, Bremen, Nuremberg and London UK.
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