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Liability of the creditor for filling an insolvency petition

Publication at Faculty of Law |
2019

Abstract

In insolvency proceedings, the creditor as the insolvency petitioner is liable for damage or other harm arising from the initiation of insolvency proceedings and the measures taken in the course of the insolvency proceedings if this was not reasonably initiated by the petitioner. Any person who has suffered such damage can claim compensation.

The aim of the article is to analyze the basic principles of the insolvency liability of the petitioner, the cases of claiming damages, and the extinction of the right to damages. The final summary is presented knowledge gained by legal research with regard to the current legislation and recent case law.