The Legal Statement applies areas of insolvency law to digital assets, providing valuable guidance on the approach English courts will take.

Despites its recent failure in case against an administrator in a phoenixing case, ASIC could snatch long-term victory from the jaws of defeat with clear regulatory guidance for insolvency practitioners.

Despites its recent failure in case against an administrator in a phoenixing case, ASIC could snatch long-term victory from the jaws of defeat with clear regulatory guidance for insolvency practitioners.

Despites its recent failure in case against an administrator in a phoenixing case, ASIC could snatch long-term victory from the jaws of defeat with clear regulatory guidance for insolvency practitioners.

Despites its recent failure in case against an administrator in a phoenixing case, ASIC could snatch long-term victory from the jaws of defeat with clear regulatory guidance for insolvency practitioners.

Hungarian insolvency law already knows the concept of avoidance actions. Allowing creditors and liquidators to challenge certain transactions aims to protect the value of the insolvency estate. Although the principles of Hungarian insolvency law are the same as those outlined in the European Commission's proposal for a Directive (i.e. Proposed Directive), there are some aspects which would need to be carefully thought through before they are harmonised.

The EU directive harmonising certain aspects of insolvency law, a Propo

The right to effectively avoid the illegitimate removal of assets from a company in financial difficulties is a key element of any insolvency law that protects the rights of creditors and maximises the recovery of value from the insolvent company.

Czech insolvency law, and in particular the insolvency avoidance rights, play a significant role as a recovery tool for creditors in insolvency proceedings, but in practice mainly act as a preventive warning signal for a debtor and its creditors when trading, even before financial problems arise.

Digital assets may be new, but existing English insolvency laws and principles can deal with them. So finds the UK Jurisdiction Taskforce (UKJT) in its ‘Legal Statement on Digital Assets and English Insolvency Law’, published this week.

Key takeaways include:

Despites its recent failure in case against an administrator in a phoenixing case, ASIC could snatch long-term victory from the jaws of defeat with clear regulatory guidance for insolvency practitioners.