Going forward, companies brokering the products of others should have particular focus as to whether they have made it sufficiently clear that they act only as an intermediary, and according are not liable for the performance of contracts brokered. This is the consequence of a leading case delivered by the High Court of Eastern Denmark concerning the travel portal Goleif's duty to pay for a consumer's replacement flight following the bankruptcy of airline Cimber Sterling in May 2012.

Background

Højesteret afsagde den 11. maj 2016 en principiel kendelse i en sag om, hvorvidt Andelsboligforeningen Duegården i likvidation kunne gå konkurs, på trods af at andelsboligforeningens bank og realkreditinstitut, Nykredit, havde givet tilsagn om økonomisk at ville støtte andelsboligforeningen.

Andelsboligforeningen havde siden dens stiftelse i 2007 ikke kunnet finansiere dens drift og havde derfor finansieret denne ved gældsoptagelse.

August 2016

Nyhedsbrev

- Insolvens & Rekonstruktion

Nyhedsbrevet indeholder referater af nyere retspraksis om insolvensretlige problemstillinger samt orientering om en ndring af Erhvervsstyrelsens praksis vedrrende tvangsoplsning af selskaber. Gorrissen Federspiels afdeling for Insolvens & Rekonstruktion kan kontaktes, sfremt nyhedsbrevet giver anledning til bemrkninger eller uddybende sprgsml. Kontaktoplysninger fremgr sidst i nyhedsbrevet.

Konkursbetingelser

Nedenfor følger referater af nyere retspraksis om insolvensretlige problemstillinger. Gorrissen Federspiels afdeling for Insolvens & Rekonstruktion kan kontaktes, såfremt dette nyhedsbrev giver anledning til bemærkninger eller uddybende spørgsmål. Kontaktoplysninger findes sidst i nyhedsbrevet.

Omstødelse 

ISSUE FOUR 2017 FUNDING IN FOCUS Are Asian arbitral centres going to surpass the old continent? PwC Damages: an expert’s view Who wins, where and why? Stockholm, Sweden, Scandinavia Freshfields Bruckhaus Deringer 60 seconds Q&A with Erin Miller Rankin Brick Court Chambers Competition damages litigation in London pre- and post- Brexit Wilberforce Chambers Getting at trust assets and piercing the corporate veil Disputes funding for corporates CONTENTS Are Asian arbitral centres going to surpass the old continent?

A December 2012 ruling has effectively called into question the validity of engine leases in Denmark. Ruling in relation to the bankrupt regional airline Cimber Sterling, a judge in the District Court of Sønderborg ordered the trustees of the estate to return seven of the nine engines in question to the engine lessors. However, the two remaining engines, both GE CF34s valued at around USD 2 million each, were to be retained by the trustees as on the date of bankruptcy they had been affixed to the Bombardier CRJ200 aircraft for over three months.

On 17 July 2014, the regulation creating the European Account Preservation Order ("EAPO") came into force. This regulation will serve as an alternative to domestic remedies and relates to the freezing of bank accounts across participating EU Member States. The EAPO Regulation will be applicable from 18 January 2017.  It will automatically apply to all Member States except the UK and Denmark which have opted out of the EAPO; therefore, it will not apply to assets located in those countries.

What's New?

As the Novel coronavirus (COVID-19) pandemic continues to spread across the globe, people and businesses are facing unprecedented challenges, both immediate and strategic. Governments in various jurisdictions have announced various measures to try to alleviate the distress caused by the numerous issues that have arisen and continue to arise, particularly around cashflow and employees.

In SwissMarineCorporation Ltd v OW Supply & Trading[1], the High Court refused to grant an anti-suit injunction restraining Danish insolvency proceedings. This case provides a useful discussion of the circumstances in which the court are likely to grant an anti-suit injunction, and in particular where there are jurisdiction issues involving elements of both civil and insolvency proceedings.

A December 2012 ruling has effectively called into question the validity of engine leases in Denmark. Ruling in relation to the bankrupt regional airline Cimber Sterling, a judge in the District Court of Sønderborg ordered the trustees of the estate to return seven of the nine engines in question to the engine lessors. However, the two remaining engines, both GE CF34s valued at around USD 2 million each, were to be retained by the trustees as on the date of bankruptcy they had been affixed to the Bombardier CRJ200 aircraft for over three months.