Bankrupt Insurer Dispute Stays May Reach Across EU Borders

Law360, London (July 16, 2020, 4:47 PM BST) -- An adviser to the European Union's top court proposed a test Thursday under the bloc's prudential regime for insurers that would allow bankruptcy litigation stays required in one country to be applied in other jurisdictions under certain conditions.

Advocate General Gerard Hogan laid out a test to decide whether a bankruptcy litigation stay can apply across borders within the European Union, after Bulgaria queried whether it should pause all litigation against a broke Cyprus-headquartered insurer in light of Cyprus' rule halting disputes once an insurer's license has been pulled and a provisional liquidator has been appointed.

In a nonbinding opinion, Hogan...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!


Related Sections

Government Agencies

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!