Avoiding Clawbacks: How Companies Can Protect Against Reclaims in Insolvency
The term ?clawback? can be a source of concern for many companies facing insolvency. When a company enters insolvency, the insolvency administrator can review past transactions and reclaim gratuitous payments or unusual business dealings. What Is Clawback in Insolvency? Clawback, or insolvency avoidance, is a legal mechanism that allows an insolvency administrator to undo certain transactions made during a specific period before the insolvency filing. The objective is to restore the debtor?s assets and distribute them fairly among creditors. Transactions that can be challenged include gratuitous payments, excessive remuneration, or unjustified benefits.
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