Rely on the most comprehensive, up-to-date legal content designed and curated by lawyers for lawyers
Work faster and smarter to improve your drafting productivity without increasing risk
Accelerate the creation and use of high quality and trusted legal documents and forms
Streamline how you manage your legal business with proven tools and processes
Manage risk and compliance in your organisation to reduce your risk profile
Stay up to date and informed with insights from our trusted experts, news and information sources
Access the best content in the industry, effortlessly — confident that your news is trustworthy and up to date.
Find up-to-date guidance on points of law and then easily pull up sources to support your advice with Lexis PSL
With over 30 practice areas, we have all bases covered. Find out how we can help
Our trusted tax intelligence solutions, highly-regarded exam training and education materials help guide and tutor Tax professionals
Regulatory, business information and analytics solutions that help professionals make better decisions
A leading provider of software platforms for professional services firms
In-depth analysis, commentary and practical information to help you protect your business
LexisNexis Blogs shed light on topics affecting the legal profession and the issues you're facing
Legal professionals trust us to help navigate change. Find out how we help ensure they exceed expectations
Lex Chat is a LexisNexis current affairs podcast sharing insights on topics for the legal profession
Discuss the latest legal developments, ask questions, and share best practice with other LexisPSL subscribers
What does Schmid v Hertel C-328/12  All ER (D) 221 (Jan) tell us about whether the EC Regulation on Insolvency applies to transactions to set aside (or other antecedent transactions ) even if the third party which benefits from that transaction is not resident in a member state (in this case Switzerland)?
In the case the Court of Justice of the European Union (CJEU) made a preliminary ruling concerning the interpretation of Council Regulation (EC) 1346/2000, art 3(1) on insolvency proceedings (the EC Regulation on Insolvency). The request had been made in the context of a dispute between Mr Schmid, acting as liquidator of the assets of Ms Zimmermann and Ms Hertel, who was resident in Switzerland, concerning an action to set a transaction aside.
The CJEU decided that:
The applicant was the liquidator of an individual debtor's assets, appointed in the insolvency proceedings opened in Germany. The liquidator brought an action in the German courts against the third party (who was resident in Switzerland, which is not a member state for the purposes of the EC Regulation on Insolvency) seeking to have a transaction set aside.
The German liquidator pursued his action to have the transaction set aside by appealing to the Bundesgerichtshof (Federal Court of Justice) in Germany. The Bundesgerichtshof stayed its proceedings to refer the following question to the CJEU for a preliminary ruling: Do the courts of the member state within the territory of which insolvency proceedings regarding the debtor's assets have been opened have jurisdiction to decide an action
Access this article and thousands of others like it free by subscribing to our blog.
Read full article
Already a subscriber? Login
0330 161 1234