도산절차상 부인의 대상과 효과

Avoidance's Object and Effect of Bankruptcy Procedures

Excessive expansion of avoidance power can threaten the stability of commercial transactions. There is a need to guarantee transactional safety by clearly defining what actions constitute avoidance. Under Bankruptcy Act, avoidance can be classified as avoidance of fraudulent conveyance, avoidance of preferential payments, and avoidance without compensation depending on the debtor’s actions, bankruptcy case particulars, and the period in question. Generally, any activity that is the object of avoidance have harmful and unfair and should be performed by the debtor. There is some controversy over the issue of harm related to the sale of real estate assets at an appropriate price and repayment of original claims, borrowed funds, lien holders, and payment in substitutes, as some argue that the aforementioned cases do not qualify for avoidance under Bankruptcy Act. Exercise of avoidance power results to lose effect in relation with bankruptcy foundation. And bankruptcy foundation recover to the previous state of reparation and partner's status recover original status.