Asset recovery case – successful revocation of bankruptcy and claw-back actions
The client, who owns a considerable real estate portfolio including a hotel, was declared bankrupt. In the subsequent bankruptcy proceedings, numerous creditors filed unjustified or inflated claims which were, after prima facie review, admitted by the bankruptcy administration. The client received substantial bridge financing to pay all creditor claims admitted by the bankruptcy administration in the total amount of CHF 32 million. As a consequence, the competent district court revoked the bankruptcy of our client and of his real estate company.
In the aftermath of the successfully averted forced liquidation, Nater Dallafior lodged more than 25 claw-back actions ("Rückforderungsklagen", Article 86 of the Swiss Debt Enforcement and Bankruptcy Law) against numerous creditors with civil courts across Switzerland, Germany and Austria for the recovery of funds paid to creditors whose unjustified or inflated claims had been satisfied in order to obtain the revocation of the bankruptcy. Nater Dallafior worked together with Ferox Legal (Dennis Geissler) in Frankfurt and Wildmoser/Koch & Partner (Felix Michael Klement) in Vienna. Up to this date, the majority of these proceedings have been successfully completed and substantial assets have been recovered.
The Nater Dallafior team included Patrik Salzmann and Tobias Thaler.
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