The Federal Court of Justice has lowered the threshold for the approval of an insolvency plan by the insolvency court.
Background
Germany, Insolvency & Restructuring, Litigation, Taylor Wessing, Insolvency, Federal Court of Justice
The German Federal Court of Justice (BGH) in its ruling of 12 January 2023 (IX ZR 71/22) clarifies the requirements for proving an 'intent to disadvantage creditors' that it established in its landmark ruling of 6 May 2021.
Background
The German Federal Court of Justice (BGH) has ruled on the question of whether an agreement that grants release from a contract on grounds of insolvency or the opening of insolvency proceedings is effective.
Background
Germany, Insolvency & Restructuring, Litigation, Taylor Wessing, Insolvency, Federal Court of Justice