Legislator Case Law & Legislation
KKO 1398/2000 AI generated

Supreme Court allows adding asset realization gains to debt restructuring payment plan under specific conditions.

Case Number KKO 1398/2000
Court / Authority
Jurisdiction Finland (FI)
Decision Date
Outcome Allowed / Granted

Legislator summary

AI generated

The Supreme Court of Finland allowed the modification of a debt restructuring payment plan to include tax on asset realization gains as a debt. The applicant argued that the tax liability arising from the forced sale of assets should be treated as a restructuring debt, while the opposing party contended it was a separate tax obligation. The court ruled that under the relevant tax and restructuring laws, such gains can be incorporated into the payment plan if they meet the statutory criteria for restructuring debts.

Legislator headnote

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Section 1 of the Debt Restructuring Act; Section 2 of the Income Tax Act: The court established that gains from asset realization resulting from a forced sale can be included in a debt restructuring payment plan as a restructuring debt if the conditions of the relevant statutes are met.

Keywords

AI generated
debt restructuring payment plan asset realization gains income tax liability forced sale of assets restructuring debt criteria

Cited Legislation

AI generated
Section 1 of the Debt Restructuring Act
Section 2 of the Income Tax Act

Cited Case Law

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Full text

Kysymys siitä, voidaanko maksuohjelmaa muuttaa siten, että ohjelman mukaisesta omaisuuden realisoinnista aiheutunut luovutusvoittovero sisällytetään maksuohjelmaan velkajärjestelyn piiriin kuuluvana velkana. Ks. KKO:2000:79