In order to protect the value of insolvency estates for creditors, national insolvency laws should include effective rules on actions for the voidness, voidability or unenforceability of legal acts, including legal transactions, that are detrimental to the general body of creditors and that have been perfected prior to the opening of insolvency proceedings (avoidance actions). In order to determine whether a legal act is detrimental to the general body of creditors, it is necessary to take into account how the concepts of insolvency estate and participating creditor are defined. That is especially relevant where certain rights do not form part of an insolvency estate under national law but pertain to the debtor’s personal sphere, such as the right to enter into or end a marriage or adopt a child. The acceptance or rejection of an inheritance should not be subject to the rules on avoidance actions set out in this Directive.
Text as published in the Official Journal, reproduced verbatim (including any typographical quirks of the source). For the authentic version, see EUR-Lex.
