Cross-border Insolvency – foreign liquidators’ claims
The courts in EU member states have, as part of their domestic jurisdiction, the ability to hear and determine antecedent transaction claims against foreign defendants resident in another country, even one outside the EU. This is a result of the CJEU decision in Schmid v Hertel C-328/12, 16 January 2014 interpreting Article 3(1) European Insolvency Regulation 1346/2000. The decision endorses universalism in cross-border insolvency and highlights the risk of clawbacks by foreign office-holders in foreign courts.
If you encounter such situations, do let us know. We may be able to help in this slightly unusual area.
Date: 6th May, 2014
Articles from this Author
1st November, 2018
Budget 2018 - HMRC preferred creditor in insolvency
23rd March, 2018
20th July, 2017
Recast European Insolvency Regulation
26th June, 2017
The Recast European Insolvency Regulation (the “Recast EIR”)
Contact a Partner
Michael Lapham, Director of Financial Planning, delivered his 6-point retirement plan today at The Florist in Watfo… twitter.com/i/web/status/1…
For the latest Mercer & Hole news, visit our LinkedIn page mercer-&-hole