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Transfer Of Company’S Registered Office And Forum-Shopping In International Insolvency Cases: An Important Decision From Italy, Federico M. Mucciarelli
Transfer Of Company’S Registered Office And Forum-Shopping In International Insolvency Cases: An Important Decision From Italy, Federico M. Mucciarelli
Federico M. Mucciarelli
The Italian Supreme Court (Corte di Cassazione) has issued an important decision on companies’ freedom of establishment in the European Union (EU) and on jurisdiction over insolvency proceedings. It was a typical forum-shopping case in insolvency situations, in which a company decides to shift its registered office abroad before a court from its original country declares the insolvency. The Cassazione did not apply EC-Regulation 1346/2000 on cross-border insolvency, but declared the company as liquidated because of the transfer of the registered office. This solution leaves many questions unclear, both under EC-freedom of establishment and under jurisdiction rules for cross-border insolvency.