In the bankruptcy proceedings pending before the Princely District Court on the assets of Gable Insurance AG in bankruptcy, a former insurance company based in Liechtenstein, the trustee in bankruptcy has contested various creditor claims in whole or in part.

To date the trustee in bankruptcy and the court however in numerous cases were unable to notify the creditors in a legally effective manner that their alleged claims have been disputed by the trustee in bankruptcy.

It should be noted that under the applicable bankruptcy law, the receipt of such notification triggers a non-extendable period of 14 days within which the creditor must initiate an action to assert the disputed claims (Anordnungsklage). If no such action is filed, the creditors are excluded from the bankruptcy proceedings and the claims can no longer be asserted.

The Princely District Court has now decided to also notify the creditors by publishing an announcement in the electronic Official Gazette, so that the period for filing an action for an order shall be triggered by the announcement in the Gazette.

Accordingly, there is an increased need for action for those creditors whose claims have been contested but wish to continue to assert and enforce their claims, as in case of no further activity, their disputed claims would be permanently excluded from the bankruptcy proceedings. 

Our law firm already represents a large number of creditors in the bankruptcy proceedings and supports them in asserting and enforcing their claims.

We are happy to support affected creditors in the examination and assertion of disputed claims against the bankruptcy estate.

If you are interested, please contact: office@niedermueller.law

11|2023