Insolvency
Creditors

Filing a non-monetary claim in insolvency: estimated value at opening

How a claim for a non-monetary performance is valued under section 14 IO and filed at the insolvency opening date.

BRANDAUER Rechtsanwälte
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BRANDAUER Rechtsanwälte

Insolvency law, Salzburg and throughout Austria

We review the procedural status, contracts, payment records and security, then explain which legal question needs to be addressed next.

27 September 2026, Mag. Bernhard Brandauer, Rechtsanwalt

A creditor who seeks performance rather than payment of a sum must translate the claim into a monetary value for filing in insolvency proceedings. Section 14(1) IO requires the estimated value in domestic currency at the time the proceedings were opened.

The opening date is therefore decisive. A later price movement, a replacement purchase made afterwards or a current market value does not replace the assessment tied to the opening date.

A reliable filing should keep the contractual content, the promised performance, the economic value and the distinction from ownership of an asset separate.

Performance and monetary value

Which details belong in the review?

Each detail answers a separate question about classification and valuation.

Review fields for filing the claim
Review question Evidence Result for the filing
What was promised? Contract, performance description and amendments Nature and scope of the promised performance
When is the value assessed? Opening order and procedural records Time when the insolvency proceedings opened
What was the performance worth? Price records, market comparison and calculation Estimated euro value at the opening date
Which legal position is involved? Ownership evidence and contract records Proof of claim or review of a separation right

The records should show how the amount was derived from the specific performance claim.

Review path

Which valuation path fits your claim?

The first classification separates performance, ownership, foreign currency and maturity.

Discuss the specific matter with the firm.

01 Question 1

What is the subject of your claim?

Your answers

Review the documents

01

Build the estimated value at the opening date

Group the contract, performance description and valuation records around the opening date. The filing should show how the economic value of the promised performance was derived in euros.

02

Separate the claim from ownership of an asset

First review whether the return of an asset owned by you is the central issue. Valuing a non-monetary performance claim does not answer the ownership question.

03

Assess a foreign-currency claim separately

Classify the claim according to its monetary amount and the relevant opening date. For the distinction, see the separate guide on foreign-currency claims in insolvency.

04

Review the special rules for claims not yet due

Claims not yet due are treated as due in insolvency proceedings. For a non-interest-bearing claim not yet due, also calculate the amount under section 14(3) IO.

Section 14 IO fixes the valuation date

Section 14(1) IO covers claims that are not directed at a payment of money. Such claims are asserted in insolvency proceedings at their estimated value in domestic currency. The relevant valuation date is the opening of the insolvency proceedings.

The provision sets two reference points. The claim remains a performance claim according to its contractual content, yet the filing needs a stated monetary value. That value must relate to the opening date. A later change in price describes a later development only.

Keep a performance claim separate from ownership

A claim for delivery, manufacture, repair or another act must be distinguished from the question of who owns an existing asset. A pure performance claim concerns the economic value of the outstanding performance. If the creditor asserts ownership of a specific asset, that legal position requires a separate review first.

This distinction prevents a request for return from being treated automatically as a monetary claim. Trust money and client funds raise their own questions as well. A related guide explains separation of trust money and client funds.

Derive the estimated value from the contract

The calculation starts with what the debtor had to perform under the contract. Record the required quality, scope, stage of performance and all circumstances affecting the value at the opening date. Contemporary price records, offers or a traceable cost calculation may support the assessment.

The filing should disclose the calculation steps. The contract must show which part of the performance remains outstanding and why the stated amount represents its economic value at the opening date. Uncertain assumptions should be identified and connected to the records on which they rest.

Secure the date and the supporting records

The opening order provides the central date. The review also needs a chronology of the contract, performance to date, communications and any payments. This timeline shows which facts existed at the relevant point in time.

Valuation records should reflect the information available at that time. Later offers may serve as comparisons, but they cannot replace the opening date. If the scope of the performance changed, explain whether the change occurred before or after the proceedings opened.

Review maturity separately

Section 14(2) IO provides that claims not yet due are treated as due in insolvency proceedings. The filing therefore does not fail merely because the contractual due date falls after the opening.

Section 14(3) IO contains a separate calculation for non-interest-bearing claims not yet due. The amount that may be asserted is the amount which, with statutory interest added for the period from opening to maturity, corresponds to the full claim amount. This calculation must be kept separate from valuing a non-monetary performance claim.

State the filing clearly and make it reviewable

The filing should present the legal basis and performance, the opening date, the stated euro amount and the calculation in that order. This makes it possible to follow how the non-monetary performance became the estimated value claimed.

Attach the records in an organised way and keep contractual evidence, date evidence and valuation records distinct. If ownership, maturity or the scope of the performance is also disputed, describe each issue expressly and connect it to the relevant evidence.

Record the opening date: The estimated value must relate to the time the insolvency proceedings opened. A later price movement does not replace that assessment.
FAQ

Frequently asked questions about non-monetary claims

What is a non-monetary claim in insolvency proceedings? +

It is a claim for performance whose contractual subject is not the payment of a sum. Under section 14(1) IO, it is asserted in insolvency proceedings at its estimated value in domestic currency at the time the proceedings opened.

Which date applies to the estimated value? +

The relevant date is the time when the insolvency proceedings opened. Later market prices or cost developments may explain the assessment, but they do not replace the statutory opening date.

Do I have to estimate an ownership claim as well? +

A request for the return of an asset owned by the creditor raises an ownership question first. That review is separate from valuing a contractual performance claim. Section 14 does not determine who owns the asset.

What if the performance was due only later? +

Under section 14(2) IO, claims not yet due are treated as due in insolvency proceedings. For a non-interest-bearing claim not yet due, the calculation under section 14(3) IO must also be considered.

Which records are important for the valuation? +

Important records include the contract and performance description, the opening order, a chronology of the performance status and records supporting the economic valuation. The calculation should explain the stated euro amount step by step.

Topics
Non-monetary claimSection 14 IOOpening date

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