When can secondary proceedings be commenced under the EIR?
Olympic Airlines, a company incorporated in Greece, was put into special liquidation in Greece on 2 October 2009. Olympic had carried on business in England from premises in London, Heathrow and Manchester. It employed about 27 people and operated a pension scheme.
The trustees of the scheme issued a winding-up petition against Olympic on 20 July 2010 in the English High Court, the proposed winding up being secondary proceedings within the meaning of the European Insolvency Regulation (EIR).
The purpose of the proposed winding up was to ensure that the Pension Protection Fund could take responsibility for the scheme’s deficit of more than £15m under section 127 of the Pensions Act 2004 (the liquidation in Greece not being sufficient for this purpose)…
If you are registered and logged in to the site, click on the link below to read the rest of the Taylor Wessing briefing. If not, please register or sign in with your details below.
News from Taylor Wessing
News from The Lawyer
Briefings from Taylor Wessing
The Düsseldorf Court of Appeal has referred questions to the CJEU on whether the supply of patent-protected substances by a third party to a generic company is covered by the Bolar exemption.
This is only the second time that the Data Protection Index has featured in Global Intellectual Property Index, yet a number of trends are already apparent from the results.
Analysis from The Lawyer
The city-state is working hard to become a global wealth management hub, and law firms are gearing up for a prosperous new world
Financial disputes are starting to dominate the English courts as the long-awaited fallout from the downturn finally comes to town