Towards an Objective European Rule on Transaction Avoidance in Insolvencies
✍ Scribed by Roelf Jakob de Weijs
- Publisher
- John Wiley and Sons
- Year
- 2011
- Tongue
- English
- Weight
- 277 KB
- Volume
- 20
- Category
- Article
- ISSN
- 1180-0518
- DOI
- 10.1002/iir.196
No coin nor oath required. For personal study only.
✦ Synopsis
Following up on Insol Europe's Note'Harmonisation of Insolvency Law at EU level' (2010), this article provides a proposition for a European rule on transaction avoidance in insolvencies. The question explored here is whether, and to what extent, it is possible and desirable to identify rules on transaction avoidance solely on the basis of objective criteria. Based on a comparison of English, German and Dutch law a largely objective rule is formulated for three basic categories of detrimental legal acts. The ¢rst category concerns legal acts compromising the integrity of the estate of the debtor.The second category is formed by preferences.The thirdcategory consists of shareholder loans and shareholder guarantees.