The main consequence of a legal act being void, voidable or unenforceable as a result of an avoidance action is an obligation for the party benefitting from that legal act to return the benefit obtained to the insolvency estate. The notion of benefit in this context should include emoluments, where relevant, and interest, in accordance with applicable national law. The benefit could be considered to have been returned either where the actual benefit itself is returned or where the equivalent monetary value of that benefit is paid, in accordance with national law. It should be possible to bring avoidance actions against individual successors of the debtor if, at the time of the acquisition of the assets subject to the avoidance action, they were aware of the circumstances on which the avoidance actions were based.
Text as published in the Official Journal, reproduced verbatim (including any typographical quirks of the source). For the authentic version, see EUR-Lex.
