ILO Newsletter 13. April 2012

Insolvency & Restructuring

Court revokes abolition of free legal aid for insolvency estates without assets

In 2009 the Austrian legislature abolished free legal aid for legal entities, and thus also for insolvency estates without assets, although free legal aid had previously been

granted only under very restricted conditions (for further details please see "Legislature impedes assertion of claims of bankruptcy estates without assets"). As a consequence, trustees in bankruptcy could no longer assert claims of the insolvency estate if the relevant insolvency estate had no assets.


Dr. Alexander Isola

M.C.J. (NYU) Partner