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Austria: How insolvency avoidance actions in Austria could be affected by the proposed EU Directive on harmonisation of insolvency law

Avoidance actions are a household staple for insolvency administrators to increase the insolvency estate in Austria. The current European Commission’s Proposal for a Directive (COM (2022)702) now aims to harmonise contestation rights in insolvency across all European member states.

Austria, European Union, Insolvency & Restructuring, CMS Reich-Rohrwig Hainz, European Commission, European Court of Justice
Procedural and substantive interruption and suspension of time limits

On Monday, 16th March 2020, the Federal Act on provisional measures to prevent the dissemination of COVID-19 (COVID-19-Measures Act) came into effect in Austria.

Austria, Insolvency & Restructuring, Litigation, CMS Reich-Rohrwig Hainz, Coronavirus