References
As early as 1981, the District Court of Leeuwarden had declared the applicability of foreign bankruptcy law to a ‘bankruptcy pauliana’ based on a claim by a foreign (in this case German) receiver. (District Court of Leeuwarden, 22 October 1981, NIPR 1983, 202). See also T.M. Bos, note on cross-border insolvency, 42 NILR (1995) pp. 121–130.
The Netherlands Supreme Court, 15 April 1955, NJ 1955, 542, note by Hijmans van den Bergh (‘Comfin’).
This system is sometimes also referred to as the ‘Raubsystem’: see H. Hanisch, ‘Vollmacht und Auskunft des Insolvenzschuldners über sein Auslandsvermögen’, 14 IPRax (1994) p. 353; or as the ‘grab rule’: see J.L. Westbrook, ‘The Lessons of Maxwell Communication’, 64 Fordham Law Review (1996) p. 2532.
H.L.E. Verhagen believes that when entering into international contracts, a company must take account of the fact that foreign bankruptcy law may be applicable, with everything which that implies for the agreements entered into. (H.L.E. Verhagen in his Note to the conclusion of the ‘Advocaat-Generaal’, 27 June 1997, Jurisprudence Onderneming & Recht 1997, 116). For the Choice-of-Law Problem, see also Westbrook, loc. cit. n. 3, at pp. 2533–2534.
The German Supreme Court, 30 April 1992, IPRspr. 1992 No. 265, IPRax 1993, 87. See also H. Hanisch, ‘Extraterritoriale Wirkung eines allgemeinen Veraufierungsverbots im Konkurseroffhungsverfahren — Revisibilitat ermessensfehlerhafter Ermittlung auslandischen Rechts — Durchgriff — Auf die Insolvenzanfechtung anwendbares Recht’, 13 IPRax (1993) pp. 69–74; K. Otte, ‘Anspruch des Konkursvenvalters auf Riickgewahr von Inhaberaktien einer AG mit Sitz im Ausland’, 16 IPRax (1996) pp. 327–332.
The German Supreme Court, 21 November 1996, Wertpapier Mitteilungen 1997, 178, Monatsschrift für Deutsches Recht 1997, 472.
After the implementation of the new Insolvenzordnung, the cumulative reference to the law applicable to the avoidance of legal transactions in bankruptcies with an international scope laid down in Art. 102, para. 2 of the Act implementing the Insolvenzordnung, will become effective. In addition, according to Art. 1, para. 19 of the latter Act, the law which governs the legal transaction is furthermore exclusively applicable to an avoidance to situations other than bankruptcies.
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Bos, T.M. The Avoidance of Antecedent Transactions in International Bankruptcies: ‘Pauliana’ and The Cumulative Reference to Both the Lex Concursus and The Lex Causae . Neth Int Law Rev 45, 262–269 (1998). https://doi.org/10.1017/S0165070X00000243
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DOI: https://doi.org/10.1017/S0165070X00000243