- Jurisdiction under Article 6(1) of the Recast Insolvency Regulation (Emerald v Cassini)
- What are the practical implications of this case?
- What was the background?
- What did the court decide?
- Case details
Restructuring & Insolvency analysis: Mr Justice Zacaroli held that the English court has jurisdiction to hear the claim for declaratory relief brought by the lenders in respect of a senior facilities agreement (SFA) where the borrower is subject to insolvency proceedings in France. After a detailed examination of relevant authorities, the judge came to the conclusion that the claim is outside of the scope of Article 6(1) of the Recast Insolvency Regulation because it is based on the rules of civil and commercial law rather than the rules specific to insolvency proceedings. Given the claim was commenced after 31 December 2021 the court had jurisdiction via the exclusive jurisdiction clause in the SFA pursuant to common law principles. Written by Alan Bennett, partner, head of Restructuring and Insolvency and Karolina Lewandowska, solicitor at Ashfords LLP.
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