Key legal question
Whether a debtor may withdraw an insolvency declaration while appealing the bankruptcy declaration.
Extracted holding
Yes. The appeal is admissible and operates as a withdrawal of the insolvency declaration, so that the procedural prerequisite for bankruptcy disappears.
Extracted reasoning
Under Art. 191 SchKG, insolvency declaration is available to an insolvent debtor absent abuse of rights. An appeal under Art. 194 in conjunction with Art. 174 SchKG may be used to withdraw the request. Since the debtor’s appeal here amounts to such a withdrawal, the basis for the bankruptcy order falls away; novelties are admissible on appeal under established practice.