ECJ INSOLVENCY JURISDICTION CHOICE CASE – GERMANY, SPAIN
January 1st, 2006
BY KEITH NUTHALL
INSOLVENT businesses within the European Union (EU) may not transfer bankruptcy cases to a different member state, simply by the owner moving from their home country, the European Court of Justice (ECJ) has ruled. Its EU-wide precedent followed a case involving a German businesswoman who closed a telecommunications business, and then launched insolvency proceedings regarding her assets in Wuppertal. The local court refused, claiming there were no assets to consider and when she appealed - having subsequently moved to Spain - a higher court ...
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