Insolvency claim – the insolvency claim is a method for bringing universal forced execution on the assets of the debtor. The goal is to satisfy the creditors of the debtor. Creditor lodges insolvency claim in a situation when the debtor is no longer able to conduct his business normally. In this sense, the execution procedure on the base of submitted claim will substitute the individual execution process. I.e. the individual court case which a creditor would have been able to conduct in order to sell the debtor’s assets and collect their money if they have won a court case.
In this line of thoughts, in some legal systems, if a debtor declares bankruptcy, then their creditor is no longer able to claim against him in a standard court procedure for reimbursement. But will have to join the insolvency procedure as a creditor, in order to ask the court to admit their pretention against the debtor. The difference is that in a standard court case the creditor proves their pretention with the claim for reimbursement. While in the insolvency process he/she will have to prove their pretention with the claim for joining the insolvency procedure. And as a result, they will be included in the list of the creditors. If the court accepts their pretention, then the final result will be similar. They will have a court decision for admitting their taking. And will wait for the sale of the available assets of the debtor.