Two recent Supreme Court of Canada decisions demonstrate that the corporate attribution doctrine is not a one-size-fits-all approach.

Court approval of a sale process in receivership or Bankruptcy and Insolvency Act (“BIA”) proposal proceedings is generally a procedural order and objectors do not have an appeal as of right; they must seek leave and meet a high test in order obtain it. However, in Peakhill Capital Inc. v.

On 23 November 2022, the Regional Court of Munich ruled that shareholders' damages claims for breach of capital markets law rank as equity and not as general unsecured claims in the Wirecard insolvency. As a result, the shareholders can only recover from the insolvent estate in the unlikely event that all insolvency creditors' claims are fully satisfied.

The decision

The German Federal Court of Justice (Bundesgerichtshof) recently changed its interpretation of the law regarding clawback claims, Vorsatzanfechtung (case of actio pauliana). Here, we outline how the Court's position on clawback claims has changed and what this could mean for future claims.

What are the existing legal provisions?