European Directories v (DH6) BV

European Directories v (DH6) BV

The company, though incorporated in the Netherlands, has its centre of main interests in England, is insolvent, and administration is reasonably likely to achieve a better result for creditors than liquidation. The application is supported by all economically interested creditors, and there is no opposition. The statutory and regulatory requirements for an administration order are satisfied.

Parties
Claimant/respondent: European Directories (DH6) BV; Other: Proposed Administrators; Other: Security Trustee; Other: Priority Lenders
Jurisdiction
England and Wales
Judgment Date
06 December 2010
Procedural Posture
Insolvency/administration Application / Judgment on Application for Administration Order
Outcome
Administration order granted
Legal Topics
Administration Order, Centre of Main Interests (comi), Jurisdiction Under EC Regulation, Corporate Restructuring, Creditor Priorities
Insolvency Law Company Law Cross Border Insolvency Administration Order Centre of Main Interests (comi) Jurisdiction Under EC Regulation Corporate Restructuring Creditor Priorities

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Parties

European Directories (DH6) BV

Claimant/respondent

Proposed Administrators

Other

Security Trustee

Other

Priority Lenders

Other

Procedural Posture

Insolvency/administration Application / Judgment on Application for Administration Order

Legal Issues

  1. 1 Whether the court has jurisdiction to make an administration order for a Dutch company under English law
  2. 2 Whether the company's centre of main interests (COMI) is in England
  3. 3 Whether the company is insolvent under cash flow or balance sheet tests

Ratio Decidendi

The company, though incorporated in the Netherlands, has its centre of main interests in England, is insolvent, and administration is reasonably likely to achieve a better result for creditors than liquidation. The application is supported by all economically interested creditors, and there is no opposition. The statutory and regulatory requirements for an administration order are satisfied.

Court Disposition

Administration order granted

Orders

  • Administration order made in respect of European Directories (DH6) BV
  • Proposed restructuring to proceed under the supervision of administrators