The ECJ in “Estro/Smallstep” on the Dutch pre-pack in relation to article 5(1) of Directive 2001/23 – A red flag for the pre-pack as we know it?

摘要

In its preliminary ruling, the ECJ has decided that the Dutch pre-pack does not come under the derogation in Article 5(1) of Directive 2001/23. The reasoning of the ECJ will have important consequences for the pre-pack-practice and (draft) legislation in all European Member States, including Belgium, Germany, France and the United Kingdom.