Am 4. Februar 2025 wurde der neueste Entwurf des geänderten Konkursgesetzes („Entwurf“) vom Obersten Volksgerichtshof („SPC“) zur öffentlichen Stellungnahme veröffentlicht. Der Entwurf soll das geltende Konkursgesetz Nr. 51/2014/QH13 vom 19. Juni 2014 („Konkursgesetz 2014“) ersetzen und führt mehrere wesentliche Änderungen ein, die sich auf die Konkursverfahren auswirken können, die auf der Umsetzung des Konkursgesetzes 2014 ab seinem Inkrafttreten bis heute basieren. Die erste Frist für öffentliche Stellungnahmen läuft bis zum 25.

Le 4 février 2025, le dernier projet de loi amendée sur la faillite (« le Projet de loi ») a été publié par la Cour populaire suprême (« CPS ») pour consultation publique. Le Projet de loi est censé remplacer la loi actuelle sur la faillite n°51/2014/QH13 du 19 juin 2024 (« Loi sur la faillite de 2014 ») et introduit plusieurs changements significatifs qui pourraient impacter les procédures de faillite, se basant sur la mise en œuvre de la Loi sur la faillite de 2014 depuis son entrée en vigueur.

On 4 February 2025, the latest Draft of the Amended Law on Bankruptcy (“Draft”) was published by the People’s Supreme Court (“SPC”) for public comments. The Draft is prepared to supersede the current Law on Law on Bankruptcy No. 51/2014/QH13 dated 19 June 2014 (“Bankruptcy Law 2014”) and introduces several significant changes that may impact the bankruptcy procedures based on the implementation of the Bankruptcy Law 2014 from its effective date until now.

The Barton doctrine provides that a court-appointed receiver cannot be sued absent “leave of court by which he was appointed.” Barton v. Barbour, 104 U.S. 126, 127 (1881).

Section 548 of the bankruptcy code authorizes a trustee, debtor, or other appropriate party to avoid actual and constructive fraudulent transfers that occurred prepetition. In order to prove that a transfer was an actual fraudulent transfer, the trustee (or another appropriate plaintiff) must prove that the debtor made the transfer “with actual intent to hinder, delay or defraud any entity to which to debtor was or became…indebted.” 11 U.S.C. §548(a)(1)(A).

An appeals court has issued an insightful decision on the availability of damages when an involuntary bankruptcy petition is filed in bad faith. See Stursberg v. Morrison Sund PLLC, No. 23-1186, 2024 U.S. App. LEXIS 20286 (8th Cir. Aug. 13, 2024).

The decision addresses both the interplay between Bankruptcy Code sections 303 and 305 and federal preemption of state law.

Under federal law, a debtor may be criminally prosecuted for various kinds of misconduct in connection with a bankruptcy case, including concealing assets, falsifying information, embezzlement, or bribery. See 18 U.S.C. §§ 152, 157. The U.S. Trustee, which serves as a watchdog over the bankruptcy process, will refer such cases to the U.S. Attorney’s Office for investigation and prosecution.

We have blogged previously about the intersection of fraud and bankruptcy.

In Harrington v. Purdue Pharma L.P., 144 S. Ct. 2071 (2024) (“Purdue”), the Supreme Court held that the Bankruptcy Code does not authorize nonconsensual releases of nondebtors as part of a chapter 11 plan. The Court narrowly read the Code’s language, providing that a plan may “include any other appropriate provision not inconsistent with the applicable provisions of this title,” 11 U.S.C.

This article originally appeared in The Bankruptcy Strategist.

To file bankruptcy in the U.S., a debtor must reside in, have a domicile or a place of business in, or have property in the United States. 11 U.S.C. §109(a). In cross border Chapter 15 cases, courts have considered if a foreign debtor must satisfy that jurisdictional test.