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It is a court-ordered form of debt enforcement proceedings that applies, in general, to registered commercial entities only.
If the negotiations fail or the moratorium expires, normal debt enforcement proceedings may resume.
Once concluded, it takes effect with respect to all creditors and sets an end to all ongoing debt enforcement proceedings.
Switzerland: Foreclosure takes place as a form of debt enforcement proceedings under Swiss insolvency law.
It suspends or prevents most debt enforcement proceedings against the debtor, but also makes most business decisions of the debtor subject to approval by a court-appointed administrator (Sachwalter / commissaire).
Foreclosure in the People's Republic of China takes place as a form of debt enforcement proceedings under strict judicial foreclosure, which is only allowed by law of guarantee and law of property right.
