Spain – Management of the insolvency

Management of a Company in a Crisis Situation

Avoidance of payments made during insolvency.

EU Court of Justice. The Court accepted the action brought directly against the director of a UK company, initiated from insolvency proceedings opened in Germany. The action was brought before a German judge by the liquidator of the company and aimed to recover payments made by the director prior to the opening of the insolvency proceedings but after the date on which the company became insolvent.