Ist der Vertragspartner insolvent, stellt sich die Frage nach der Einordnung der offenen Forderungen: Insolvenzforderung oder Masseverbindlichkeit?
Ob man Insolvenz- oder Massegläubiger ist, spielt vor allem wegen der fast immer unterschiedlichen Befriedigungsquote eine große Rolle: Insolvenzforderungen werden nur in Höhe der (meist geringen) Insolvenzquote bedient, während Masseverbindlichkeiten (häufig auch als Masseforderung bezeichnet) grundsätzlich in voller Höhe vorab aus der Insolvenzmasse befriedigt werden.
Seit 25 Jahren bietet die InsO verschiedene Werkzeuge, um Gläubiger bestmöglich befriedigen und gleichzeitig Unternehmen nachhaltig sanieren zu können.
Geld zurück trotz erbrachter Leistung wegen zu hoher Deckungslücke des Schuldners. Aber wann?
Gläubigerbenachteiligungsvorsatz bei der Vorsatzanfechtung im Rahmen von Grundstücksverkäufen (BGH, Urteil vom 22. Februar 2024 – IX ZR 226/20).
In UKCloud Ltd(Re Insolvency Act 1986) [2024] EWHC 1259 (Ch), the court was again faced with the age-old question of categorisation of a security interest but this time in respect of a new type of asset, internet protocol (IP) addresses. Could fixed charge security be taken over IP addresses and, if so, was it taken here?
Sian Participation Corp (In Liquidation) (Appellant) v Halimeda International Ltd (Respondent) (Virgin Islands) [2024] UKPC 16
In March 2015 the major high street retailer British Home Stores (BHS) was acquired for £1 by Retail Acquisitions Limited (RAL), a company owned by Mr Dominic Chappell. Mr Chappell became a director of the BHS entities upon completion of the purchase, together with three other individuals.
What happens to a company at the end of an administration is a question that probably only keeps insolvency anoraks up at night.
There are a limited number of potential options, with the rescue of the company as a going concern being the number one objective to which all administrators aspire. However, more often than not, an administration will end with the company entering liquidation or, where the company has no property to permit a distribution to creditors, the dissolution of the company.
An important decision on the “boundary issue” between arbitration and insolvency came out this week. One that has troubled me in the past.
Question: Can you wind up a company for a debt due under a contract containing an arbitration agreement or do you have to go through arbitration first? Up until now, you had to get an arbitral award first, regardless of whether the debt was disputed.
But now, unless the debt is disputed on genuine and substantial grounds, you can press ahead with applying for a winder. So said the Privy Council today.
In Mitchell and others v Al Jaber; Al Jaber and others v JJW Ltd [2024] EWCA Civ 423 the Court of Appeal has confirmed that a director remained subject to a continuing fiduciary duty post liquidation when purporting to transfer assets owned by that company, on the basis he was an “intermeddler”. While the case concerned a BVI company, the court’s decision was based on English-law authorities and therefore has wider significance.
Facts