The Supreme Court performed summary “Case-law in cases on contesting of transactions and recovery of losses from debtor’s representatives within insolvency proceedings”. Research provides study on conclusions consolidated in case-law, the most typical situations and issues, which presented the greatest difficulties to parties and to the court.

Contesting of previous transactions performed by the debtor and recovery of losses from debtor’s representatives have been measures of insolvency proceedings, which have been performed on behalf of interest of creditors’ body, to recover means to satisfy creditors’ claims.

Practice of contesting of transactions and recovery of losses also significantly influences security of general commercial legal environment. Effective, anticipated and consistent practice allows decreasing of indecent action in mutual relations of merchants, namely, it has also preventive meaning.  

Study of the Supreme Court comprises rulings of the appellate instance and the Supreme Court Senate rendered between 2008 and the beginning of 2014. 46 cases regarding contesting of transactions within insolvency proceedings were used for the analysis, however, recovery of losses from debtor’s representatives was reviewed in 18 cases.   

Case-law research was performed by Helmuts Jauja, leading lawyer of bureau of sworn advocates „Delotte Legal”, in cooperation with the Supreme Court Department of Civil Cases and the Division of Case-law. Compilation of case-law decisions was accepted at the meeting of judges of the Department of Civil Cases.  

Taking study results into account, recommendations for improvement of case-law have been proposed. 

Compilation of court decisions is available in Latvian language on the web site of the Supreme Court www.at.gov.lv in Section Judicature/ Compilations of court decisions/ Civil law. See here

 

Information prepared by

Rasma Zvejniece, the Head of the Division of Communication of the Supreme Court

E-mail: rasma.zvejniece@at.gov.lv, telephone: 67020396, 28652211