European court backs US bank in Parmalat’s winding-up

The European Court of Justice issued an Opinion on 27 September 2005 supporting the Bank of America in its dispute with the administrators of Parmalat over which European jurisdiction should oversee the winding-up of the collapsed Italian dairy group's Irish offshoot. Many insolvency lawyers and specialists were disappointed with the Opinion because they had hoped the case would give guidance on what should happen when different parties and courts involved in a European insolvency make rival claims over jurisdiction.

European Court of Justice: Case-law: Search form: Case C-341/04 http://curia.europa.eu/jurisp/cgi-bin/form.pl?lang=en&Submit=Submit&alldocs=alldocs&docj=docj&docop=docop&docor=docor&docjo=docjo&numaff=C-341%2F04&datefs=&datefe=&nomusuel=&domaine=&mots=&resmax=100

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