In the Matter of a Petition for arrangement by PA. D with an address c/o .... Co. Dublin [2012] IEHC 574 (20 January 2012)

In the Matter of a Petition for arrangement by PA. D with an address c/o .... Co. Dublin [2012] IEHC 574 (20 January 2012)

The court lacks jurisdiction under the Insolvency Regulation because the petitioner's proposal did not constitute a vesting arrangement as required by s.93 of the Bankruptcy Act 1988 and Annex A of the Regulation. The subsequent attempt to introduce a vesting arrangement was ineffective, as the property proposed to be vested was not the petitioner's. Furthermore, the petitioner's centre of main interests was not in Ireland at the relevant time.

Citation
[2012] IEHC 574
Parties
Petitioner: P A. D; Objecting Creditor: Anglo Irish Bank Corporation (International) plc
Jurisdiction
Ireland
Judgment Date
20 January 2012
Procedural Posture
Bankruptcy Arrangement Petition / Application to Set Aside Protection Order
Outcome
protection order set aside; petition dismissed for want of jurisdiction
Legal Topics
Jurisdiction Under EU Insolvency Regulation, Vesting Arrangement Under Bankruptcy Act 1988, Centre of Main Interests (comi), Modification of Proposals in Bankruptcy, Recognition of Insolvency Proceedings
Insolvency Bankruptcy Private International Law Jurisdiction Under EU Insolvency Regulation Vesting Arrangement Under Bankruptcy Act 1988 Centre of Main Interests (comi) Modification of Proposals in Bankruptcy Recognition of Insolvency Proceedings

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Parties

P A. D

Petitioner

Anglo Irish Bank Corporation (International) plc

Objecting Creditor

Procedural Posture

Bankruptcy Arrangement Petition / Application to Set Aside Protection Order

Legal Issues

  1. 1 Whether the court has jurisdiction under Council Regulation (EC) No. 1346/2000 (Insolvency Regulation) to hear the petition for arrangement
  2. 2 Whether the petitioner's proposal constitutes a 'vesting arrangement' under s.93 of the Bankruptcy Act 1988
  3. 3 Whether the petitioner's centre of main interests (COMI) is in Ireland for the purposes of the Insolvency Regulation

Ratio Decidendi

The court lacks jurisdiction under the Insolvency Regulation because the petitioner's proposal did not constitute a vesting arrangement as required by s.93 of the Bankruptcy Act 1988 and Annex A of the Regulation. The subsequent attempt to introduce a vesting arrangement was ineffective, as the property proposed to be vested was not the petitioner's. Furthermore, the petitioner's centre of main interests was not in Ireland at the relevant time.

Court Disposition

protection order set aside; petition dismissed for want of jurisdiction

Orders

  • Order for protection set aside
  • Petition for arrangement dismissed