With regard to a case on which DGKV advises the claimant (a German trustee in bankruptcy), the Supreme Court of Cassation (“SCC”) has allowed our cassation appeal for adjudication on issues requiring interpretation of the provisions of Article 3, paragraph 1 Article 18, paragraph 2; Article 24 and Article 21 of Council Regulation (EC) No 1346/2000 of 29th May 2000 on insolvency proceedings (“The Regulation”). Further, the SCC found it necessary to make a reference for a preliminary ruling to the European Court of Justice (“ECJ”), thus favouring DGKV’s motion in this regard, based on Article 19, para 2, item “b” of the Treaty on European Union and Article 267, para 1, item “b” and para 3 of the Treaty on the Functioning of the European Union. Such requests happen extremely rarely, which itself is a huge success for our litigation team!
The reference for a preliminary ruling to the ECJ relates to a number of specific questions concerning the meaning and applicability of Articles 18, 21 and 24 of the Regulation in the case where insolvency proceedings have been opened in a member state against a debtor and the appointed trustee has launched avoidance action against debtor’s branch in Bulgaria.
DGKV’s team working on this project includes Partner Angel Ganev and Senior Associates Valentin Bojilov and Simeon Simeonov.