Practice question · Put in order
Order the phases of a concurso.
- Common phase: inventory and list of claims
- Convenio agreed, or liquidation and payment by rank
- Insolvency: due debts can no longer be met
- Petition filed within two months
- Declaration: enforcement freezes, administration appointed
Hints
- The state of insolvency precedes any petition.
- The choice between agreement and winding-up comes at the end.
Show the answer
- Insolvency: due debts can no longer be met
- Petition filed within two months
- Declaration: enforcement freezes, administration appointed
- Common phase: inventory and list of claims
- Convenio agreed, or liquidation and payment by rank
Why
Insolvency → petition → declaration → common phase → convenio-or-liquidation. Each phase exists to keep the race from restarting.
Practise Insolvency and the Concurso
The app has 9 more questions on this lesson, and keeps your place in the course. Business I is free to start.
More questions on Insolvency and the Concurso
- The debtor learns of its insolvency on March 1. Set the slider to the day of the legal deadline for filing…
- A struggling but viable firm is worth more running than sold for parts, yet uncoordinated creditors would…
- A liquidation yields 250k€. Estate claims take 20k€, secured creditors 130k€, general privilege 60k€. How…
- Why does insolvency law freeze individual enforcement actions the moment the concurso is declared?