ECJ EUROFOOD CASE IRELAND ITALY PARMALAT
April 1st, 2006
BY KEITH NUTHALL
THE EUROPEAN Court of Justice (ECJ) has ruled that efforts to squeeze Ireland-based creditors from Bank of America-inspired insolvency proceedings of a Dublin-based subsidiary of Italian food giant Parmalat could be blocked by the Irish courts. Although the ECJ ruling in principle also confirms the theoretical rights of Italian liquidators to have a role - noting that "the right of creditors or their representatives to participate" in insolvency proceedings "is of particular importance" - the effect in this case will be to ...
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