Facts

ENEFI Energiahatékonysági Nyrt v Directia Generala Regionala a Finantelor Publice Brasov (DGRFP) [2016] All ER (D) 110 (Nov)

The Court of Justice of the European Union ("ECJ") has handed down a notable judgment in the case of ENEFI Energiahatékonysági Nyrt v Directia Generala Regionala a Finantelor Publice Brasov (DGRFP) [2016] All ER (D) 110 (Nov), ruling that domestic laws governing forfeiture of a claim in insolvency proceedings apply to foreign creditors too.

Following the collapse of Banco Espirito Santo, the Court of Appeal held that a $835m loan had not been transferred to Novo Banco.

This case concerns a Court of Appeal hearing following the 2014 collapse of substantial Portuguese bank Banco Espirito Santo ('BES').

In June 2014, Oak Finance Luxembourg SA ('Oak') entered a facility agreement with BES to lend approximately $835million. The agreement contained English law and jurisdiction clauses.

The Court of Justice of the European Union ("ECJ") has handed down a notable judgment in the case of ENEFI Energiahatékonysági Nyrt v Directia Generala Regionala a Finantelor Publice Brasov (DGRFP) [2016] All ER (D) 110 (Nov), ruling that domestic laws governing forfeiture of a claim in insolvency proceedings apply to foreign creditors too

Background

In Leahy v Bailey & ors [2016] IEHC 592, High Court, Keane J, 28 October 2016, the liquidator sought a declaration of restriction against the three respondent directors pursuant to Section 819(1) of the Companies Act 2014.

Facts

In MB Refrigeration and Air Conditioning Ltd (In Liquidation) v Allied Irish Banks Plc [2016] IEHC 753, High Court, Barrett J, 21 December 2016, the Liquidator of the plaintiff company sought a declaration that certain transactions between 13 August 2013 and 4 October 2013 on a particular AIB account, constituted dispositions of the property of the plaintiff made after the commencement of its winding-up and thus wer

This article was originally published on The Gazette, and the original article can be found online here.

Substantive amendments to the existing insolvency rules come into force in April. Olivia Bridger, of Ashfords, explains the key changes.

We continue our roundup of events concerning the marine industry in 2016, as well as looking forward to 2017, by looking at how the collapse of Hanjin affected the world of shipping.

ECJ decides that rights in rem should be interpreted in accordance with German law, despite insolvency proceedings having been opened in France

In the recent case of SCI Senior Home (in Administration) v Gemeinde Wedemark, Hannoversche Volksbank eG, the Court of Justice of the European Union handed down judgment on the question of whether a right in rem created under national law should be considered a "right in rem" for the purposes of Article 5 of the Council Regulation (EC) 1346/2000 on insolvency proceedings (the "Insolvency Regulation").

In the recent case of SCI Senior Home (in Administration) v Gemeinde Wedemark, Hannoversche Volksbank eG, the Court of Justice of the European Union handed down judgment on the question of whether a right in rem created under national law should be considered a "right in rem" for the purposes of Article 5 of the Council Regulation (EC) 1346/2000 on insolvency proceedings (the "Insolvency Regulation").

Background