THE DEVELOPMENT OF TRANSACTION AVOIDANCE IN EUROPEAN UNION INSOLVENCY LAW
Transaction avoidance is part of insolvency proceedings. The successful application of the rules on transaction avoidance allows the value of the debtor’s assets to be maximised, and thus increases the satisfaction of creditors’ claims. In the European Union, the substantive rules on insolvency law...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
| Published: |
Mykolas Romeris University
2023-12-01
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| Series: | International Comparative Jurisprudence |
| Subjects: | |
| Online Access: | https://ojs.mruni.eu/ojs/international-comparative-jurisprudence/article/view/7908 |
| _version_ | 1797356555838947328 |
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| author | Darius Bolzanas Remigijus Jokubauskas Marek Świerczyński |
| author_facet | Darius Bolzanas Remigijus Jokubauskas Marek Świerczyński |
| author_sort | Darius Bolzanas |
| collection | DOAJ |
| description | Transaction avoidance is part of insolvency proceedings. The successful application of the rules on transaction avoidance allows the value of the debtor’s assets to be maximised, and thus increases the satisfaction of creditors’ claims. In the European Union, the substantive rules on insolvency law still are a matter of the national laws of Member States. However, trends in the policy-making actions of the European Union reveal that various initiatives have been proposed to establish certain rules on transaction avoidance which should increase recovery rates for creditors and contribute to the proper functioning of the domestic market. This article focuses on the general aims of transaction avoidance and provides a critical assessment of the proposed harmonisation of the rules on transaction avoidance in European Union law. The authors found that the proposed rules on the harmonisation of transaction avoidance rules in European Union insolvency law may actually discourage businesses regarding the exercise of the freedom of establishment, and may also intervene in the substantive insolvency and civil law regulations of Member States. |
| first_indexed | 2024-03-08T14:29:20Z |
| format | Article |
| id | doaj.art-b6d0a4df18a74ccda777e2f8ca559dc6 |
| institution | Directory Open Access Journal |
| issn | 2351-6674 |
| language | English |
| last_indexed | 2024-03-08T14:29:20Z |
| publishDate | 2023-12-01 |
| publisher | Mykolas Romeris University |
| record_format | Article |
| series | International Comparative Jurisprudence |
| spelling | doaj.art-b6d0a4df18a74ccda777e2f8ca559dc62024-01-12T15:43:03ZengMykolas Romeris UniversityInternational Comparative Jurisprudence2351-66742023-12-019223725010.13165/j.icj.2023.12.007THE DEVELOPMENT OF TRANSACTION AVOIDANCE IN EUROPEAN UNION INSOLVENCY LAWDarius Bolzanas0Remigijus Jokubauskas1Marek Świerczyński2Mykolas Romeris UniversityMykolas Romeris UniversityUniversity of Cardinal Stefan WyszynskiTransaction avoidance is part of insolvency proceedings. The successful application of the rules on transaction avoidance allows the value of the debtor’s assets to be maximised, and thus increases the satisfaction of creditors’ claims. In the European Union, the substantive rules on insolvency law still are a matter of the national laws of Member States. However, trends in the policy-making actions of the European Union reveal that various initiatives have been proposed to establish certain rules on transaction avoidance which should increase recovery rates for creditors and contribute to the proper functioning of the domestic market. This article focuses on the general aims of transaction avoidance and provides a critical assessment of the proposed harmonisation of the rules on transaction avoidance in European Union law. The authors found that the proposed rules on the harmonisation of transaction avoidance rules in European Union insolvency law may actually discourage businesses regarding the exercise of the freedom of establishment, and may also intervene in the substantive insolvency and civil law regulations of Member States.https://ojs.mruni.eu/ojs/international-comparative-jurisprudence/article/view/7908transaction avoidanceinsolvency law |
| spellingShingle | Darius Bolzanas Remigijus Jokubauskas Marek Świerczyński THE DEVELOPMENT OF TRANSACTION AVOIDANCE IN EUROPEAN UNION INSOLVENCY LAW International Comparative Jurisprudence transaction avoidance insolvency law |
| title | THE DEVELOPMENT OF TRANSACTION AVOIDANCE IN EUROPEAN UNION INSOLVENCY LAW |
| title_full | THE DEVELOPMENT OF TRANSACTION AVOIDANCE IN EUROPEAN UNION INSOLVENCY LAW |
| title_fullStr | THE DEVELOPMENT OF TRANSACTION AVOIDANCE IN EUROPEAN UNION INSOLVENCY LAW |
| title_full_unstemmed | THE DEVELOPMENT OF TRANSACTION AVOIDANCE IN EUROPEAN UNION INSOLVENCY LAW |
| title_short | THE DEVELOPMENT OF TRANSACTION AVOIDANCE IN EUROPEAN UNION INSOLVENCY LAW |
| title_sort | development of transaction avoidance in european union insolvency law |
| topic | transaction avoidance insolvency law |
| url | https://ojs.mruni.eu/ojs/international-comparative-jurisprudence/article/view/7908 |
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