Austrian Supreme Court allows sale of insolvency avoidance claims in recent landmark ruling - new dynamics ahead! (Lexology)
Under Austrian law the prevailing view and by and large unquestioned sentiment for decades had been that insolvency avoidance claims must be asserted by the administrator and cannot be assigned to a third party. Only in recent times a few scholars started to question this position. Now, in a very recent landmark ruling of 17 June 2019 (17 Ob 6/19k), the Austrian Supreme Court overruled the prevailing view and declared the assignment of avoidance claims by the administrator permissible. This is a game changer and will bring more flexibility and new dynamics in Austrian insolvencies.
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