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Ausgleich, gerichtliches VerfahrenInsolvency Settlement (composition), judicial proceedings in which creditors make concessions to an insolvent debtor; creditors usually write off a part of their receivables and agree to extend credit to the debtor for the remaining debts. Further reading: R. Holzhammer, Österreichisches Insolvenzrecht, 51996; J. Erber, ABC des Insolvenzrechtes, 41998.
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