- Court of Justice rules corporate restructuring proceedings are outside scope of recast Brussels Regulation (Peter Valach v Waldviertel Sparkasse Bank AG)
- Original news
- What is the background to the case? What issues arise that are pertinent to insolvency professionals?
- What were the main legal arguments raised?
- What did the Court of Justice decide and why?
- What are the practical implications of this case for insolvency lawyers advising their clients?
- To what extent is the judgment helpful in clarifying the law in this area?
Restructuring & Insolvency analysis: The First Chamber of the Court of Justice of the European Union (Court of Justice) has had to consider whether a set of proceedings connected with an insolvency fall within the scope of Brussels I recast (EU) 1215/2012. Stefan Ramel of Guildhall Chambers, who has a specialist insolvency practice, comments on what lessons can be learned from this case and considers the wider implications for these types of cases.
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