In addition, creditors of subsidiaries may be affected for the above reasons if they see an increasing risk of recovering their credits, when the cash-pooling system recovers the balance of the debtor`s subsidiary. Faced with these challenges, these incumbent shareholders and creditors may challenge certain contractual agreements (for example. B, the approval of annual accounts, the exercise of the right to information on the cash pooling contract or the challenge to the conclusion of the contract established by the directors). In summary, the court`s decision in this case is determined by: the existence of insolvency, the organization that sells shares with an unrealistic price, and the indication of the price agreed to carry out the cash pool. Since the subsidiaries, which are neither debtors nor creditors, are more or less linked to the insolvent business, that they find themselves in a less favourable position in the recovery of their credits, this transaction must be re-sold. One group consists of a holding company and three companies. Their bank assets change every day because of their activities. Significant fluctuations are not uncommon in the market in which the group operates. For these reasons, the group has opted for zero-compensation cash pooling with a bank that offers favourable terms. [4] Section 1, paragraph 1, point b) of the Tax on Civil Law Transactions Act of September 9, 2000 (`CLT Act`) provides for the imposition of a loan contract or a physical property loan contract that is defined only in your class. While the group`s resources are allocated to the funds made available by the Bank (for example. B to determine the applicable interest rate), the reports are not settled by the Bank`s funds against funds from group entities.

In other words, since only funds borrowed by the bank fall within the scope, the calculation of lines of credit not used by banks is not influenced by the amount of funds in the cash pool made available by cash pool participants. However, all funds of entities in the group are guarantees (i.e. cash guarantees) and must be reported to AnaCredit as protection of funds made available to the group by the bank. This corresponds to the requirement that AnaCredit`s protection be notified separately from the instruments. Physical cash pool In a physical cash pool, cash is paid regularly (daily, weekly or monthly) from the bank account of each company in the group to the bank account of a cash pool manager. The cash pool manager will own the cash and each deposit to a third-party bank will be converted into a loan to the cash leader in the group. The effects of Russian monetary control legislation in the case of international remittances are also important in examining cash-pooling agreements with Russian companies. In accordance with the aforementioned provisions, cash-pooling between a Russian unit and non-residents is subject to monetary control. This means that the Russian company is required to register the contract with the bank if the value of the contract is about 50,000 usd for import contracts or about $100,000 for export contracts.