Insolvency avoidance
The statutory mechanism by which certain pre-opening acts may be declared ineffective against insolvency creditors.
Section 27 IO permits the avoidance of certain acts carried out before proceedings were opened and affecting the debtor's assets. Section 31 IO provides a specific ground for avoidance after insolvency has occurred or an opening application has been filed. Its application depends on matters including the act, timing, detriment and knowledge at the time.
Insolvency avoidance differs from filing a claim and from an ordinary repayment claim. It concerns the effect of an earlier act against insolvency creditors. The avoidance topic hub structures the review; the detailed article explains payments and the administrator's role in Austrian insolvency avoidance.
More information
General guidance, not advice on an individual matter.
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Insolvency estate
The assets subject to the insolvency proceedings and relevant to administration, realisation and creditor satisfaction.
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Insolvency administrator
The court-appointed office holder with duties assigned by the type of proceedings and court decisions.
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Insolvency creditor
A creditor who must pursue its claim in the insolvency proceedings under section 102 IO.
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BRANDAUER Rechtsanwälte GmbH Giselakai 51 5020 Salzburg
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