Friday, 7 June 2013

UK: England and Wales: no jurisdiction to wind-up company

The Court of Appeal gave judgment yesterday in Olympic Airlines SA Pension & Life Insurance Scheme v Olympic Airlines SA [2013] EWCA Civ 643. At first instance (see [2012] EWHC 1413 (Ch)) the trial judge held that the court had jurisdiction to wind-up a company under Article 3(2) of Council Regulation (EC) 1346/2000 (the Insolvency Regulation) because the company had an establishment in England on the date the winding-up petition was presented. The Court of Appeal disagreed: there was no jurisdiction because the company did not have an establishment, the trial judge having erred in, amongst other things, overlooking the Virg√≥s-Schmit report as an authoritative commentary on the Regulation.

Update (12 June 2013) - a summary of the case has been provided by the ICLR: see here.

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