{"id":6705,"date":"2018-06-27T00:00:00","date_gmt":"2018-06-27T00:00:00","guid":{"rendered":"https:\/\/www.grafisola.at\/en-liability-for-payments-after-company-has-become-insolvent-1\/"},"modified":"2021-09-06T14:15:44","modified_gmt":"2021-09-06T14:15:44","slug":"en-liability-for-payments-after-company-has-become-insolvent-1","status":"publish","type":"post","link":"https:\/\/www.grafisola.at\/en\/en-liability-for-payments-after-company-has-become-insolvent-1\/","title":{"rendered":"Liability for payments after company has become insolvent"},"content":{"rendered":"<p>If a managing director of a company makes payments after a substantive insolvency, they may be liable for damages under Section 25(3)(2) of the Statute on Limited Liability Companies. This does not apply to payments that comply with the duty to exercise due care and diligence of a prudent and conscientious manager even after the occurrence of substantive insolvency. Such liability will arise if there is a reduction in the company&#8217;s assets which are distributable as part of the insolvent&#8217;s estate because the managing director filed for insolvency late and payments were made in the meantime. The company is the party entitled to such damages.<\/p>\n<p><a class=\"download\" title=\"\u00d6ffnet internen Link im aktuellen Fenster\" href=\"\/fileadmin\/content\/anwalt\/Isola\/Publikationen\/AI_ILO_Liability_for_payments_after_company_has_become_insolvent_22.06.2018.pdf\" target=\"_blank\" rel=\"noopener\">ILO-Newsletter<\/a>, dd. 22 June 2018<br \/>\n<a title=\"\u00d6ffnet internen Link im aktuellen Fenster\" href=\"http:\/\/www.internationallawoffice.com\/\" target=\"_blank\" rel=\"noopener\">About ILO<\/a> (International Law Office)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>If a managing director of a company makes payments after a substantive insolvency, they may be liable for damages under Section 25(3)(2) of the Statute on Limited Liability Companies. This does not apply to payments that comply with the duty to exercise due care and diligence of a prudent and conscientious manager even after the occurrence of substantive insolvency. Such liability will arise if there is a reduction in the company&#8217;s assets which are distributable as part of the insolvent&#8217;s estate because the managing director filed for insolvency late and payments were made in the meantime. The company is the party entitled to such damages.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"ocean_post_layout":"","ocean_both_sidebars_style":"","ocean_both_sidebars_content_width":0,"ocean_both_sidebars_sidebars_width":0,"ocean_sidebar":"0","ocean_second_sidebar":"0","ocean_disable_margins":"enable","ocean_add_body_class":"","ocean_shortcode_before_top_bar":"","ocean_shortcode_after_top_bar":"","ocean_shortcode_before_header":"","ocean_shortcode_after_header":"","ocean_has_shortcode":"","ocean_shortcode_after_title":"","ocean_shortcode_before_footer_widgets":"","ocean_shortcode_after_footer_widgets":"","ocean_shortcode_before_footer_bottom":"","ocean_shortcode_after_footer_bottom":"","ocean_display_top_bar":"default","ocean_display_header":"default","ocean_header_style":"","ocean_center_header_left_menu":"0","ocean_custom_header_template":"0","ocean_custom_logo":0,"ocean_custom_retina_logo":0,"ocean_custom_logo_max_width":0,"ocean_custom_logo_tablet_max_width":0,"ocean_custom_logo_mobile_max_width":0,"ocean_custom_logo_max_height":0,"ocean_custom_logo_tablet_max_height":0,"ocean_custom_logo_mobile_max_height":0,"ocean_header_custom_menu":"0","ocean_menu_typo_font_family":"0","ocean_menu_typo_font_subset":"","ocean_menu_typo_font_size":0,"ocean_menu_typo_font_size_tablet":0,"ocean_menu_typo_font_size_mobile":0,"ocean_menu_typo_font_size_unit":"px","ocean_menu_typo_font_weight":"","ocean_menu_typo_font_weight_tablet":"","ocean_menu_typo_font_weight_mobile":"","ocean_menu_typo_transform":"","ocean_menu_typo_transform_tablet":"","ocean_menu_typo_transform_mobile":"","ocean_menu_typo_line_height":0,"ocean_menu_typo_line_height_tablet":0,"ocean_menu_typo_line_height_mobile":0,"ocean_menu_typo_line_height_unit":"","ocean_menu_typo_spacing":0,"ocean_menu_typo_spacing_tablet":0,"ocean_menu_typo_spacing_mobile":0,"ocean_menu_typo_spacing_unit":"","ocean_menu_link_color":"","ocean_menu_link_color_hover":"","ocean_menu_link_color_active":"","ocean_menu_link_background":"","ocean_menu_link_hover_background":"","ocean_menu_link_active_background":"","ocean_menu_social_links_bg":"","ocean_menu_social_hover_links_bg":"","ocean_menu_social_links_color":"","ocean_menu_social_hover_links_color":"","ocean_disable_title":"default","ocean_disable_heading":"default","ocean_post_title":"","ocean_post_subheading":"","ocean_post_title_style":"","ocean_post_title_background_color":"","ocean_post_title_background":0,"ocean_post_title_bg_image_position":"","ocean_post_title_bg_image_attachment":"","ocean_post_title_bg_image_repeat":"","ocean_post_title_bg_image_size":"","ocean_post_title_height":0,"ocean_post_title_bg_overlay":0.5,"ocean_post_title_bg_overlay_color":"","ocean_disable_breadcrumbs":"default","ocean_breadcrumbs_color":"","ocean_breadcrumbs_separator_color":"","ocean_breadcrumbs_links_color":"","ocean_breadcrumbs_links_hover_color":"","ocean_display_footer_widgets":"default","ocean_display_footer_bottom":"default","ocean_custom_footer_template":"0","ocean_post_oembed":"","ocean_post_self_hosted_media":"","ocean_post_video_embed":"","ocean_link_format":"","ocean_link_format_target":"self","ocean_quote_format":"","ocean_quote_format_link":"post","ocean_gallery_link_images":"off","ocean_gallery_id":[],"footnotes":""},"categories":[70],"tags":[],"class_list":["post-6705","post","type-post","status-publish","format-standard","hentry","category-publications","entry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Liability for payments after company has become insolvent - Graf Isola<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.grafisola.at\/en\/en-liability-for-payments-after-company-has-become-insolvent-1\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Liability for payments after company has become insolvent - Graf Isola\" \/>\n<meta property=\"og:description\" content=\"If a managing director of a company makes payments after a substantive insolvency, they may be liable for damages under Section 25(3)(2) of the Statute on Limited Liability Companies. 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