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- Title
German Law to Contest Debtors' Transactions in Insolvency Proceedings under Critical Review.
- Authors
Kuehn, Christiane
- Abstract
The common understanding with regard to the Insolvency Administrator's right to contest transactions due to 'wilful disadvantaging' according to section 133 of the German Insolvency Statute (hereinafter referred to as 'InsO') has faded for a while now. The scope of transactions that are considered to be wilfully disadvantageous for creditors has been widely broadened by the applicable case law. Consequently, many parties who maintain business relationships with partners who are at the edge of insolvency suffer high losses because they have to refund received amounts to the insolvency estate. A quite controversial debate is taking place.
- Subjects
GERMANY; GERMAN law; JURISTIC acts; CRIMINAL procedure; DEBTOR &; creditor; FEDERAL courts; BUSINESS partnerships
- Publication
Insolvency & Restructuring International, 2015, Vol 9, Issue 1, p16
- ISSN
1995-0241
- Publication type
Article