JUDGMENT OF THE COURT

(First Chamber)

of 16 September 2004

in Case C-28/03 (reference for a preliminary ruling from the Simvoulio tis Epikratias): Epikouriko Kefalaio v Ipourgos Anaptixis (1)

(Insurance - Articles 15 and 16 of First Directive 73/239/EEC - Articles 17 and 18 of First Directive 79/267/EEC - Proceedings for the liquidation of an insurance undertaking following the withdrawal of authorisation - Respective priority of salary claims and insurance claims)

(2004/C 273/13)

Language of the case: Greek

In Case C-28/03: reference for a preliminary ruling under Article 234 EC from the Simvoulio tis Epikratias (Greece), made by order of 23 October 2002, received at the Court on 24 January 2003, in the proceedings between Epikouriko Kefalaio and Ipourgos Anaptixis, intervener: Omospondia Asfalistikon Sillogon Elladas — the Court (First Chamber), composed of: P. Jann, President of the Chamber, A. Rosas, S. von Bahr, R. Silva de Lapuerta and K. Lenaerts (Rapporteur), Judges; L.A. Geelhoed, Advocate General; M.-F. Contet, Principal Administrator, for the Registrar, has given a judgment on 16 September 2004, in which it has ruled:

Articles 15 and 16 of First Council Directive 73/239/EEC of 24 July 1973 on the coordination of laws, regulations and administrative provisions relating to the taking-up and pursuit of the business of direct insurance other than life assurance, as amended by Second Council Directive 88/357/EEC of 22 June 1988 on the coordination of laws, regulations and administrative provisions relating to direct insurance other than life assurance and laying down provisions to facilitate the effective exercise of freedom to provide services and amending Directive 73/239 and by Council Directive 92/49/EEC of 18 June 1992 on the coordination of laws, regulations and administrative provisions relating to direct insurance other than life assurance and amending Directives 73/239 and 88/357 (third non-life insurance Directive), and Articles 17 and 18 of First Council Directive 79/267/EEC of 5 March 1979 on the coordination of laws, regulations and administrative provisions relating to the taking-up and pursuit of the business of direct life assurance, as amended by Council Directive 90/619/EEC of 8 November 1990 on the coordination of laws, regulations and administrative provisions relating to direct life assurance, laying down provisions to facilitate the effective exercise of freedom to provide services and amending Directive 79/267 and by Council Directive 92/96/EEC of 10 November 1992 on the coordination of laws, regulations and administrative provisions relating to direct life assurance and amending Directives 79/267 and 90/619 (third life assurance Directive) do not preclude national legislation under which, if an insurance company is the subject of insolvency proceedings, is put into liquidation or is otherwise in a state of insolvency, the assets representing the technical provisions may be allocated to payment of salary claims before payment of insurance claims, where that legislation accords to insurance claims a priority whose scope encompasses in any event, in addition to the assets representing the technical provisions, other assets of the undertaking and may, by virtue of a ministerial decision, have been extended to all the available assets of the undertaking.

(1)   OJ C 70 of 22.3.2003.