# Bankrupt; bailiff’s seal

- Canonical URL: https://www.gerhardmerk.de/bankrupt-bailiffs-seal
- Post ID: 592056
- Modified: 2023-07-25T21:01:26+00:00
- Language: en

## Definition

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/

## Machine-readable

- Generator: Merk Knowledge 1.1.1