Der Gesetzesentwurf sieht Regelungen zu Aussetzung der Insolvenzantragspflicht, Zahlungsverboten, neuen Darlehen und Sicherheiten sowie zur Insolvenzanfechtbarkeit vor:

1. Insolvenzantragspflicht

According to the ministry, the draft bill has been prepared, and a first reading in the Bundestag is scheduled for March 25, 2020. It is expected that the law will come into force this month. According to the aforementioned press release, the temporary suspension of the obligation to file for insolvency will be subject to the following conditions:

Nach Informationen aus dem Ministerium werde derzeit am Gesetzesentwurf gearbeitet und eine erste Lesung im Bundestag sei für den 25.03.2020 geplant. Man gehe davon aus, dass das Gesetz noch in diesem Monat in Kraft treten werde.

Nach der Pressemitteilung vom 16.03.2020 soll die temporäre Aussetzung der Insolvenzantragspflicht an folgende Voraussetzungen geknüpft sein:

The High Court decision in Re All Star Leisure (Group) Limited (2019), which confirmed the validity of an administration appointment by a qualified floating charge holder (QFCH) out of court hours by CE-Filing, will be welcomed.

The decision accepted that the rules did not currently provide for such an out of hours appointment to take place but it confirmed it was a defect capable of being cured and, perhaps more importantly, the court also stressed the need for an urgent review of the rules so that there is no doubt such an appointment could be made.

In certain circumstances, if a claim is proven, the defendant will be able to offset monies that are due to it from the claimant - this is known as set off.

Here, we cover the basics of set off, including the different types of set off and key points you need to know.

What is set off?

Where the right of set off arises, it can act as a defence to part or the whole of a claim.

This week’s TGIF takes a look at the recent case of Mills Oakley (a partnership) v Asset HQ Australia Pty Ltd [2019] VSC 98, where the Supreme Court of Victoria found the statutory presumption of insolvency did not arise as there had not been effective service of a statutory demand due to a typographical error in the postal address.

What happened?

This week’s TGIF examines a decision of the Victorian Supreme Court which found that several proofs had been wrongly admitted or rejected, and had correct decisions been made, the company would not have been put into liquidation.

BACKGROUND

In our update this month we take a look at some recent decisions that will be of interest to those involved in insolvency litigation. These include:

Creditor not obliged to take steps in foreign proceedings to preserve security

This week’s TGIF considers Re Broens Pty Limited (in liq) [2018] NSWSC 1747, in which a liquidator was held to be justified in making distributions to creditors in spite of several claims by employees for long service leave entitlements.

What happened?

On 19 December 2016, voluntary administrators were appointed to Broens Pty Limited (the Company). The Company supplied machinery & services to manufacturers in aerospace, rail, defence and mining industries.