Representation of Global Senior Lender in Parmalat SpA’s Precedential Insolvency

Patrick Corr acted for the global senior lender in the Italian administration and Irish liquidation of Eurofood Ifsc, a Parmalat group entity, in a multiyear landmark case involving key provisions of the EU Regulation on Insolvency Proceedings. As a result of conflicting decisions in the Irish and Italian courts, the European Court of Justice was asked to consider certain provisions of the EU Regulation on Insolvency Proceedings for the first time. The outcome of the case became the leading authority for the regulation’s interpretation.