Judgment of the Court (First Chamber) of 5 July 2012 (reference for a preliminary ruling from the Legfelsőbb Bíróság — Hungary) — ERSTE Bank Hungary Nyrt v Magyar Állam, BCL Trading GmbH, ERSTE Befektetési Zrt

(Case C-527/10) (1)

(Judicial cooperation in civil matters - Insolvency proceedings - Regulation (EC) No 1346/2000 - Article 5(1) - Temporal application - Action in rem brought in a State not a member of the European Union - Insolvency proceedings opened against the debtor in another Member State - First State became a member of the European Union - Applicability)

2012/C 287/06

Language of the case: Hungarian

Referring court

Legfelsőbb Bíróság

Parties to the main proceedings

Applicant: ERSTE Bank Hungary Nyrt

Defendant: Magyar Állam, BCL Trading GmbH, ERSTE Befektetési Zrt

Re:

Reference for a preliminary ruling — Legfelsőbb Bíróság — Interpretation of Article 5(1) of Council Regulation (EC) No 1346/2000 of 29 May 2000 on insolvency proceedings (OJ 2000 L 160, p. 1) — Action in rem brought in the Member State where the subject of the right in rem is situated against a defendant with its registered office in another Member State and against which insolvency proceedings were commenced in that latter State before the accession of the former State to the European Union — Temporal applicability of Article 5(1) of Regulation (EC) No 1346/2000

Operative part of the judgment

Article 5(1) of Council Regulation (EC) No 1346/2000 of 29 May 2000 on insolvency proceedings must be interpreted as meaning that that provision is applicable, in circumstances such as those in the main proceedings, even to insolvency proceedings opened before the accession of the Republic of Hungary to the European Union where, on 1 May 2004, the debtor’s assets on which the right in rem concerned was based were situated in that State, which is for the referring court to ascertain.

(1)  OJ C 30, 29.1.2011.