In 2006, the members of the VID adopted professional standards that stipulate strict rules for joining and practicing the profession of insolvency administrator.
The members adopted the Code of Conduct in 2002. The goal was to ensure high-quality insolvency administration in the interest of creditors and secure jobs. These professional standards are meant to be not only a requirement for VID members but also the foundation of every insolvency administration activity.
The professional standards were defined in more detail and expanded in 2011 by the adoption of the “Principles of Proper Insolvency Administration” (Grundsätze ordnungsgemäßer Insolvenzverwaltung) (GOI).
VID-Berufsgrundsätze as PDF-Download