1 Introduction:
As an entrepreneur and wealthy private individual, you should think about bankruptcy and securing your assets at an early stage. Because if an event of insolvency occurs, a “design structure” is no longer effectively possible due to the right to challenge insolvency.
The risk in one’s own insolvency is that one’s own seizable assets become part of the insolvency estate and are used for the purpose of evenly satisfying creditors.
The order of the day is therefore either to leave potential assets with a close relative (wife, children, etc.) or to trigger a “reversion” of assets to family members in the event of insolvency.
One possibility for this (from various other constructions) is to grant contractual retransfer rights.
In this article we will look at the design of these rights and the legal framework to ensure effective and legally secure asset protection.
2. Retransfer rights as “asset protection” in the event of insolvency
Reconveyance rights allow assets to be transferred back to the original owner in the event of bankruptcy. These rights can be contractually agreed and thus offer a way to protect assets from access by creditors.
3. The design of retransfer rights
The structure of the retransfer rights should be clear and unambiguous in order to avoid later legal disputes.
It is important to precisely define the subject matter, scope and conditions of the retransfer.
In addition, relevant contract structures should be reviewed by an experienced lawyer to ensure that they meet legal requirements. Retransfer rights in connection with a property should also be e.g. B. can be secured with a reservation in the land register.
4. The insolvency challenge as a counterpart to the “asset protection” under insolvency law
When granting retransfer rights, the risk of insolvency challenge must be taken into account. Actions taken close to insolvency proceedings that disadvantage creditors can be challenged. In order to minimize the risk of a challenge, retransfer rights should be agreed early and not just during the crisis. When structuring, the deadlines and prerequisites of the insolvency challenge law in accordance with Sections 129 ff. InsO must be taken into account in particular.
5. Consideration of criminal offenses when securing assets during a crisis
Illegally favoring individual creditors can have criminal consequences. It is therefore essential to ensure that the agreement on retransfer rights cannot be interpreted as discriminating against creditors. Comprehensive legal advice is essential in order to avoid criminal risks and not to fall into the trap of Sections 283 ff. of the Criminal Code.
6. Conclusion
Granting reconveyance rights can be an effective method of protecting assets in the event of bankruptcy.
However, it is of the utmost importance to design these rights carefully and in compliance with the legal framework.
Hiring a knowledgeable lawyer at an early stage can help minimize legal risks and effectively protect assets in the event of bankruptcy.
This article does not represent specific and individual legal advice, but rather only provides a rough initial overview of the very complex legal matter described. You can only obtain legal certainty for your specific case constellation through coordinated examination and advice from an expert lawyer.
I would be happy to assist you as a lawyer and specialist lawyer for a legal assessment and assessment of your case and represent your interests assertively and resolutely. (With) creditors, the insolvency court and the insolvency administrator. Please feel free to contact me by phone or write to me.
I advise nationwide on site or via Zoom as a specialist lawyer in the legal areas of corporate law, tax law and insolvency law, including in the cities and metropolitan areas around Stuttgart, Heilbronn, Karlsruhe, Freiburg, Ulm, Augsburg, Munich, Frankfurt, Wiesbaden, Saarbrücken, Kaiserslautern, Bonn, Wuppertal, Duisburg, Nuremberg, Münster, Saarbrücken, Düsseldorf, Cologne, Dortmund, Hanover, Kassel, Leipzig, Dresden, Bremen, Hamburg and Berlin.
#Insolvenz procedure #Insolvency opening #Insolvenzverwaltung #Insolvenzlandlage #regelinsolvenz #asset protection #asset protection #return right #insolvenz denierstechung #retransmission #right #rechtwärwalthandelswrecht # #Rechtsanwalt #ananwalt #specialist #fachanwalt
#Asset #protection #event #insolvency #retransfer #rights #security
