Van Buggenhout and another v Banque Internationale à Luxembourg SA – WLR Daily

Posted September 23rd, 2013 in debts, EC law, foreign companies, foreign jurisdictions, insolvency, law reports by sally

Van Buggenhout and another v Banque Internationale à Luxembourg SA (Case C-251/12); [2013] WLR (D) 353

“A payment made at the behest of debtor subject to insolvency proceedings to one of the latter’s creditors did not fall within the scope of article 24(1) of Council Regulation (EC) No 1346/2000 of 29 May 2000 on insolvency proceedings. That provision enabled a person who honoured an obligation ‘for the benefit of’ a debtor, who was subject to insolvency proceedings opened in another member state , when it should have been honoured for the benefit of the liquidator, to be deemed to have discharged it if he was unaware of the opening of proceedings.”

WLR Daily, 19th September 2013

Source: www.iclr.co.uk