Subordination of intragroup claims (Supreme Court Judgement, 15th March 2017)

Furthermore, article 93(2)(3) SIA includes in the list of a debtor’s related parties, and therefore taints with subordination claims held by, among others: (i) companies that belong to the same group of companies as the insolvent debtor and (ii) its common shareholders, provided that the latter meet the requirement established in paragraph 1 of the same article…