Jugement Kantonsgericht (VD - Plainte/2020/17)

Canton:	VD
Case number:	Plainte/2020/17

Instance:	Kantonsgericht
Department:	Kammer für Strafverfolgung und Konkurs

Kantonsgericht Entscheid Plainte/2020/17 vom 12.05.2020 (VD)

Date:	12.05.2020
Force of law:	-

Summary:	On May 12, 2020, the Zurich High Court overturned a decision of the Zurich District Court that had opened bankruptcy proceedings against X._______ AG. The high Court concluded that the conditions for bankruptcy were not met. It justified this by the fact that X.________ AG had sufficient funds to cover its debts. In addition, the bankruptcy proceedings for X._______ AG were disproportionate. The High Court ordered that the bankruptcy proceedings be discontinued. More detailed summary: The District Court of Zurich had opened bankruptcy proceedings against X.________ AG on February 13, 2020, after the AG had declared its insolvency. The X._______ AG filed an appeal against this decision at the Zurich High Court. The High Court approved the appeal of the X.________ AG and overturned the decision of the district court. The high Court concluded that the conditions for bankruptcy were not met. On the one hand, X.________ AG had sufficient funds to cover its debts. The AG still had assets of around CHF 10 million, while its liabilities amounted to around CHF 8 million. On the other hand, the bankruptcy proceedings for X._______ AG were disproportionate. The AG had submitted a restructuring plan that would have enabled it to settle its debts. The High Court ordered that the bankruptcy proceedings be discontinued. X.________ AG is now in a position to implement its restructuring plan.
Rule of Law:	Art. 100 LTF;Art. 112 LP;Art. 114 LP;Art. 17 LP;Art. 18 LP;Art. 22 LP;Art. 276 CC;Art. 277 CC;Art. 285a CC;Art. 289 CC;Art. 323 CC;Art. 323 CPC;Art. 53 CPC;Art. 92 LP;Art. 93 LP;Art. 96 LP;
BGE reference::	-
Comment:	Staehelin, Basler Kommentar SchKG I, Art. 22 SchKG KG, 1986 Spühler, Basler Kommentar zur ZPO, Art. 321 ZPO ; Art. 311 ZPO, 2017

Please note that there is no claim to topicality/accuracy/format and/or completeness and that therefore any guarantee is excluded. Original decisions may be ordered or made on the basis of the competent court.

Click here to return to the page search engine.