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1 Bettina Nunner-Krautgasser & Tobias Weidinger, From Debt to Discharge: Consumer Insolvency Proceedings in Austria 182 (2021)

handle is hein.brennan/fmdttodcha0001 and id is 1 raw text is: ISSN: 2409-6911 AUSTRIAN LA (CC-BY) 4.0 license JOURNAL www.austrian-'aw-journal.at DOI: 10.25364/01.8:2021.2.2 From debt to discharge: Consumer insolvency proceedings in Austria Bettina Nunner-Krautgasser/Tobias Weidinger,* Graz Abstract: Recently two legislative acts have significantly changed Austrian insolvency law Firstly the overall reform of enforcement law (Gesamtreform des Exekutionsrechts - GREx') has drastically altered the interface between individual and general enforcement And secondly the implementation of the European Restructuring and Insolvency Directve2 has improved the framework for debt discharge not only for entrepreneurs but also for consumers. This article provides a detailed overview ofthe consumer insolvency proceedingsin Austra and also addresses the activities of the recognised debt counselling agencies. Keywords: Consumer debt proceedings; insolvency proceedings; bankruptcy proceedings; reorganisation proceedings debt settlement proceedings; proceedings for income levy GREx; R/RUG; Austrian InsolvencyAct; debt discharge; general enforcement; recognised debt counselling agencies; evident insolvency 1. Introduction to the Austrian insolvency regime In Austria, an amendment to the former Bankruptcy Act (Konkursordnung) in 20103 (/nso/venzrechtssnderungsgesetz20/C') abandoned the previous division between composition (Ausg/e/ch) and bankruptcy (Konkurs); instead, with the introduction of the Austrian Insolvency Act4 (/nso/venzordnung, hereinafter 10) a unified insolvency proceeding Dr. Bettina Nunner-Krautgasser is a University-Professor and Head at the Institute of Civil Procedure and Insolvency Law of the University of Graz. Mag. Tobias Weidinger is a University Assistant at the Institute of Civil Procedure and Insolvency Law of the University of Graz. BGBl 2021/86. z Directive (EU) 2019/1023 of the European Parliament and of the Council of 20.06.2019 on preventive restructuring frameworks, on discharge of debt and disqualifications, and on measures to increase the efficiency of procedures concerning restructuring, insolvency and discharge of debt, and amending Directive (EU) 2017/1132 (Directive on restructuring and insolvency), ABI L 2019/172, 18. 3 Insolvenzrechtssnderungsgesetz 2010 BGBI 12010/29. 4 Insolvenzordnung RGBI 1914/337. Funstele Nnr-ausse/edigr Frt1 deb todshre osue novny ~oedns

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