To protect the legitimate expectations of a debtor’s counterparty, any interference, as a result of an avoidance action, with the validity or enforceability of a legal act should be proportionate to the circumstances under which that legal act was perfected. Such circumstances include the debtor’s intent, the knowledge of the counterparty, or the time that elapsed between the perfection of the legal act and the commencement of the insolvency proceedings. Therefore, it is necessary to distinguish between a variety of specific grounds for avoidance actions that are based on common and typical fact patterns and that complement the general prerequisites for avoidance actions. Any such interference should also respect the fundamental rights enshrined in the Charter of Fundamental Rights of the European Union (the Charter).
Text as published in the Official Journal, reproduced verbatim (including any typographical quirks of the source). For the authentic version, see EUR-Lex.
