Posts tagged #insolvency administrator
All PostsNo Penalty If the Insolvency Administrator Withdraws
Civil LawIn a recent decision, the Austrian Supreme Court (Oberster Gerichtshof, hereinafter OGH) examined the permissibility of enforcing a contractual penalty clause in a case where an insolvency administrator elected to withdraw from a contract. In main in...
Creditors Are Disadvantaged by Gratuitous Property Transfer
Civil LawThe Austrian Supreme Court (Oberster Gerichtshof, hereinafter OGH) has made it clear that certain legal acts can be detrimental to creditors if any such acts reduce previously existing funds for the satisfaction of claims by increasing liabilities or...
Austrian OGH on Insolvency Reorganisation Plans
Civil LawThe Austrian Supreme Court (Oberster Gerichtshof, hereinafter OGH) has clarified important questions with regard to the conditions for the confirmation of reorganisation plans. In the case at hand, the creditors had accepted the debtor’s reorganisati...
OGH: No Removal of Managing Director by Liquidator
Corporate Law Procedural LawThe Austrian Supreme Court (Oberster Gerichtshof, hereinafter OGH) has clarified that an insolvency administrator does not have the power to dismiss a managing director in the insolvency of a shareholder of a limited liability company (GmbH). The ori...
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