Analysis: “I.G.I v Maria Grazia Cicenia” by David Ramos Muñoz
I.G.I. Srl v Maria Grazia Cicenia et al (Case C-394/18)
Can a Member State’s national court apply Civil Code remedies that may interfere with the ‘neat’ EU rules on corporate divisions? The Court of Justice of the European Union (CJEU) has answered this question with a clear ‘yes’, while leaving other questions open.
In the case I.G.I. the company Costruzioni Ing. G. Iandolo Srl (Costruzioni) used a company division to transfer a part of its assets to a new company (I.G.I). Allegations were made by Ms Cicenia and others that Costruzioni had been left with insufficient assets and its creditors were left unprotected, and so an actio pauliana was brought to request that the division be invalidated. The CJEU had to interpret t