Colloquial name for a bankrupt: a person or also a company that can no longer meet its payment obligations. – Common name for the bailiff’s seal (Pfandsiegel; die Pfändungsmarke), which is affixed by the bailiff (bailiff: an officer of the court empowered to collect debts) in the course of execution (distraint: the legally regulated procedure of confiscation of someone’s property in order to obtain payment for money owed) when the debtor’s property is seized, in order to make a public statement of the seizure under Section 808 of the Code of Civil Procedure (ZPO), popularly also called cuckoo. – See bankruptcy, insolvency, bankruptcy.
Attention: The financial encyclopedia is protected by copyright and may only be used for private purposes without express consent!
University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.
Professor Dr. Eckehard Krah, Dipl.rer.pol.
E-mail address: info@ekrah.com
https://de.wikipedia.org/wiki/Gerhard_Ernst_Merk
https://www.jung-stilling-gesellschaft.de/merk/
https://www.gerhardmerk.de/