Hamburg, 12 May 2022: For five years now, the insolvency law on avoidance has been reformed by the ‘Act to Improve Legal Certainty in the Event of Avoidance under the Insolvency Code and the Avoidance Act’.
The aims of the proposed legislation included greater legal certainty for commercial transactions and a reduction in the complexity of avoidance with intent.
No evaluation takes place
To date, the Federal Ministry of Justice has refrained from evaluating the regulations. Insolvency administrator lawyer Joachim Büttner, partner at BRRS Rechtsanwälte, believes this is a mistake: “An evaluation of the regulations on insolvency avoidance law, primarily on intentional avoidance, would be necessary, or at least desirable,” he writes in the INDat report (click on the image above to read the full article).
Büttner: “Complexity has not been reduced, but increased!”
In particular, Büttner criticises the fact that instead of the intended reduction in the complexity of the avoidance matter, the opposite has occurred. In the INDat report, he goes into detail about the case law that has been handed down since the reform. There has also been no improvement in legal certainty. These are all reasons that make it all the more regrettable that the Federal Ministry of Justice has decided not to carry out an evaluation.