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When can a deed be annulled during a suspect period?
Your company has continued to do business with a company that has subsequently been the subject of insolvency proceedings - and you don't know whether these transactions can be challenged. The optional nullities of the suspect period allow the court to annul valid acts if your knowledge of the cessation of payments is established. Here is a list of the acts that can be nullified and the exact conditions under which they can be nullified.
Acts automatically annulled during the suspect period (legal nullities)
Acts performed by your company prior to the opening of insolvency proceedings may be annulled without the judge having any discretion. These de jure nullities, provided for by the Commercial Code for the suspect period, affect specific categories of acts - and their consequences for contracting parties are immediate.
Collective proceedingsUnderstanding the suspect period and its consequences for your company
If your company is placed in receivership or compulsory liquidation, the court may annul certain deeds entered into before the proceedings were initiated. The suspect period - the period between the cessation of payments and the opening of proceedings - exposes you and your business partners to specific risks that need to be assessed.
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