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ARTICLE · 04 SEPTEMBER 2024

Insolvency Challenge Rights

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The overall principle of the insolvency laws of many countries is the equal treatment of the creditors of the insolvency debtor.

GlobalInsolvency/Bankruptcy/Re-Structuring
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INTRODUCTION

The overall principle of the insolvency laws of many countries is the equal treatment of the creditors of the insolvency debtor. In order to increase the insolvency estate of a given debtor, the relevant insolvency practitioner is oftentimes entitled to insolvency challenge rights, enabling him (or even other creditors, as the case may be) to have certain transfers of assets, which have reduced the insolvency estate to the detriment of individual or all creditors, reversed. The challenge rights in particular take into account that it is often attempted in pre-insolvency phases to deprive the creditors of access to the debtor's assets by way of objectively unjustified transfers of assets or to put individual creditors in a better position.

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