WP 2 Avoidance actions
Introduction
This Working Party deals with transactions avoidance law, i.e. rules which provide for the voidness or voidability of transactions that have been performed prior to the opening of insolvency proceedings, are typically valid under general civil law yet are contrary to certain principles of insolvency law, particularly to the principle of equal treatment of creditors.
Chairs
Prof. Reinhard Bork
Catarina Serra
Completed Projects
- Value Extraction Schemes 2019
The Working Party dealt with value extraction schemes and their combating in the national transaction avoidance laws of EU Member States. After the opening of insolvency proceedings, Insolvency Practitioners (if necessary, by approaching a court) will try to reverse value extraction schemes by recollecting unfair advantages from the shareholders, be it by means of transactions avoidance, be it by means of company or general civil law. The Report Reversal on Value Extraction Schemes covers fourteen European jurisdictions. Reporter(s): Prof. Reinhard Bork and Prof. Catarina Serra.
Reporters: Prof. Reinhard Bork and Prof. Catarina Serra
This project resulted in:
- CERIL Statement 2019-2 on reversal of Value Extraction Schemes
- CERIL Report 2019-2 on reversal of Value Extraction Schemes - European Transaction Avoidance Laws 2017
National insolvency laws in Europe typically contain rules on avoidance actions. Some of them are designed to provide sanctions against fraudulent behaviour or transactions at an undervalue, whereas others aim to enforce the principle of equal treatment of creditors by enabling the insolvency practitioner to challenge preferential treatment given to a creditor in a given period prior to the application for, or opening of, insolvency proceedings. The project aims at collecting information on transactions avoidance rules from various jurisdictions and examining them in light of their underlying policies and principles. Reporter(s): Reinhard Bork.
Reporter: Reinhard Bork
The project resulted in:
- CERIL Statement 2017-1 on Transaction Avoidance Laws
- CERIL Report 2017-1 on Transaction Avoidance Laws
Members part of
WP 02 Avoidance actions
Michal Barlowski | Ordinary Conferee (Poland) |
Reinhard Bork | Co-Chair/Academic Conferee (Germany) |
Pavel Boulatov | Ordinary Conferee (Russia) |
Ieva Broka | Ordinary Conferee (Latvia) |
Amanda Cohen | Judicial Conferee (Spain) |
Bart De Moor | Ordinary Conferee (Belgium) |
Rolef de Weijs | Academic Conferee (Netherlands) |
Miodrag (Miki) Dordevic | Judicial Conferee (Slovenia) |
Patryk Filipiak | Academic Conferee (Poland) |
Roel Fransis | Ordinary Conferee (Belgium) |
Jasnica Garašić | Academic Conferee (Croatia) |
Francisco Garcimartin | Academic Conferee (Spain) |
Rita Gismondi | Ordinary Conferee (Italy) |
Bartosz Groele | Ordinary Conferee (Poland) |
Annina H Persson | Academic Conferee (Sweden) |
Frank Heemann | Ordinary Conferee (Lithuania) |
Tuomas Hupli | Academic Conferee (Finland) |
Ivan Ikrényi | Ordinary Conferee (Slovakia) |
Marjolaine Jakob | Ordinary Conferee (Switzerland) |
Line Langkjaer | Academic Conferee (Denmark) |
Antonio Leandro | Academic Conferee (Italy) |
Irene Lynch Fannon | Ordinary Conferee (Ireland) |
Caterina Macchi | Judicial Conferee (Italy) |
Renato Mangano | Academic Conferee (Italy) |
Miguel Martínez Muñoz | Academic Conferee (Spain) |
Göran Millqvist | Academic Conferee (Sweden) |
Grégory M. D. Minne | Ordinary Conferee (Luxembourg) |
Paula Moffatt | Academic Conferee (United Kingdom) |
Luciano Panzani | Academic Conferee (Italy) |
Tomáš Richter | Ordinary Conferee (Czechia) |
Omar Salah | Ordinary Conferee (Netherlands) |
Ignacio Sancho | Judicial Conferee (Spain) |
Catarina Serra | Co-Chair/Judicial Conferee (Portugal) |
Tinatin Shugarova | Ordinary Conferee (Georgia) |
Petr Sprinz | Ordinary Conferee (Lithuania) |
Joeri Vananroye | Academic Conferee (Belgium) |
Melissa Vanmeenen | Academic Conferee (Belgium) |
Michael Veder | Academic Conferee (Netherlands) |
Reinout Vriesendorp | Academic Conferee (Netherlands) |
Georg Arend Wabl | Ordinary Conferee (Austria) |
Oleg Zaitsev | Academic Conferee (Russia) |