Insolvency is that the debtor is facing current or expected financial difficulties, so that the debtor does not settle his debts and pay his obligations, this legal system applies to ordinary individuals, so the insolvency system does not extend to merchants. The procedural system of state orders in general is based on the non-necessity of judicial declaration, the non-necessity of pleading, the non-necessity of a confrontation between the litigants and respect for the rights of the defense. The court’s decision to accept the debtor’s request to settle his financial obligations is to stop the creditor’s right to request execution on the debtor’s funds or to request opening procedures for his insolvency and liquidation of his funds.

Insolvency - Financial difficulties - Financial settlement request - Cessation of insolvency procedures