Berichtstermin (report meeting, § 156 InsO)

The Berichtstermin under § 156 InsO is the first creditors' assembly after opening. The administrator reports on causes of insolvency, asset status, monetisation and going-concern prospects.

The creditors' assembly decides next steps: monetisation by administrator, insolvency plan, potentially appointment of a creditors' committee. The meeting is typically held 6–8 weeks after opening.

For buyers, the Berichtstermin is a key milestone: structured deals are hard before this date because the administrator hasn't aligned the fundamental monetisation concept with creditors yet. Afterwards the actual deal phase begins.