GREECE – ECJ CASE
September 1st, 2004
BY KEITH NUTHALLTHE EUROPEAN Court of Justice (ECJ) has ruled that European Union (EU) insurance laws allow owed salaries to be paid ahead of outstanding policy claims, when an insurance company goes out of business. Its ruling has come in a Greek case brought by a public road-accident liability fund - Epikouriko Kefalaio - against its government for ordering Intercontinental AE, also of Greece, to release part of its frozen assets to pay salary claims. The Greek government had earlier withdrawn Intercontinental's authorisation to trade in Greece, insisting that ...
Full access to this article can be arranged with permission from the client that first ordered it. Please contact us to request access. Entries are uploaded to our archive at least one year after being published by a client – free access is restricted to International News Services journalists for background research only. The article date indicates when copy was filed to a client, not when posted to this archive. Upon client requests, International News Services will remove such articles from the archive or not upload them in the first place. They are included to demonstrate the breadth of topics undertaken by the agency and also to help promote clients’ coverage.