Link: Parmalat special report
The dispute focuses on competing claims for jurisdiction in the insolvency of Eurofood, the Italian dairy group?s Irish unit, but could have repercussions far beyond the emerald isle.
Parmalat’s administrator, Enrico Bondi, and the Irish provisional liquidator Pearse Farrell, are disputing each other’s appointments. The argument turns on the location of Eurofood’s ‘centre of main interest’ – a prerequisite to the establishment of primary insolvency proceedings.
Italian and Irish courts first backed the claims of their own nationals, prompting the Irish Supreme Court to pass the matter to Luxembourg to break the deadlock. The case could now become a landmark in the evolution of the EU’s cross-border insolvency regulations.
Steve Absolom and Will Wright from KPMG Restructuring have been appointed joint administrators to City Motor Holdings and associated companies
Partners from Johnston Carmichael have been appointed as joint administrators to Axon Well Interventions Products UK
Begbies Traynor have been appointed administrators of William Anelay Ltd, York, one of Britain’s longest-established construction and heritage restoration companies
Smith & Williamson has been appointed administrators of charity 4Children