Diritto ed Economia dell'ImpresaISSN 2499-3158
G. Giappichelli Editore

29/11/2019 - Business crisis: action of the trustee and territorial competence in the insolvency procedure

argomento: News del mese - Diritto Internazionale e Comunitario

Articoli Correlati: business crisis - curator - legitimacy - territorial competence

On 4 December 2019, in the judgment in case no. C-493/18, the EU Court of Justice was asked to provide clarifications within the procedure undertaken by a bankruptcy trustee in relation to the sale of real estate initially belonging to the bankrupt company and to certain mortgages granted on these assets by the same, as well as the action taken by the trustee to declare such transactions unenforceable against the bankruptcy estate.
On questions referred for a preliminary ruling, the Court ruled that the curator’s action, nominated by a judge of the Member State in whose territory the insolvency procedure was opened, in order to declare the sale of real estate located in a another Member State as well as the mortgage granted on that asset, falls under the exclusive jurisdiction of the courts of the first Member State. Furthermore, the decision by which a judge of the Member State of initiation of the procedure authorizes the administrator to bring an action in another Member State, although the latter falls within the exclusive jurisdiction of that court, cannot have the effect of conferring international jurisdiction to the courts of that other Member State.