Abstract
The Insolvency Act provides the insolvency administrator with four options for the realisation of the assets, namely a public auction pursuant to the Act on Public Auctions, the sale of movable and immovable property pursuant to the provisions of the Code of Civil Procedure on the enforcement of judgments, an auction conducted by a bailiff and a sale outside the auction. The insolvency administrator is not entitled to choose the method of realisation independently, but the necessary condition for the legal realisation of the assets is always the consent or instruction of another entity.
The Insolvency Act does not favour any of the methods of realisation just mentioned. However, from the point of view of the protection of the property right of a person who has filed a timely exclusion action pursuant to Section 225 of the Insolvency Act, there is a fundamental difference between the various methods of realisation of the assets, since some of the methods of realisation offer greater protection to the property right.