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Secondary insolvency proceedings

The Supreme Court has considered the meaning of “economic activity” and “establishment” for the purpose of deciding whether there can be secondary insolvency proceedings in the UK pursuant to European Regulation 1346/2000.

In Trustees of Olympic Airways Pension and Life Assurance Scheme v Olympic Airlines SA [2015] UKSC 27, the court had to decide whether the activities of Olympic Airways in England were sufficient to justify a winding up order in England where the main insolvency was in Greece.

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