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Cooperatives in insolvency and liquidation - an overview of recent case law developments (2021 - 2023): Genossenschaften in Insolvenz und Liquidation - eine Übersicht über die jüngere Rechtsprechungsentwicklung (2021 - 2023)

Author

Listed:
  • Kling Michael

    (Professur für Bürgerliches Recht, Handels- und Wirtschaftsrecht, Europarecht sowie Gewerblichen Rechtsschutz, Universitätsstraße 7,35037 Marburg, Germany)

Abstract

This article takes recent case law on cooperatives in insolvency and liquidation as an opportunity to look at the Doctrine of the Defective Company. The drastic legal consequences - i.e. continuation of the obligation of cooperative members to pay obligatory contributions and the possibility of termination of the company only for the future - are again fully confirmed by this case law. However, the authority of the Insolvency administrator to enforce obligatory contributions is disputed, provided that the company's assets are sufficient to satisfy the company's creditors. Furthermore, it is examined whether investing members can claim their subscription loss against the Cooperative Auditing Association which was responsible for the formation audit. This possibility regularly fails due to the very strict liability requirements.

Suggested Citation

  • Kling Michael, 2023. "Cooperatives in insolvency and liquidation - an overview of recent case law developments (2021 - 2023): Genossenschaften in Insolvenz und Liquidation - eine Übersicht über die jüngere Rechtsprechungse," Zeitschrift für das gesamte Genossenschaftswesen, De Gruyter, vol. 73(3), pages 169-184, September.
    • Handle: RePEc:bpj:zfgewe:v:73:y:2023:i:3:p:169-184:n:5
    DOI: 10.1515/zfgg-2023-0014
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