(1) Despite Regulations 271 and 275(3), the effects of the commencement of reorganisation measures or winding-up proceedings on the contracts, relationships and rights mentioned in this Regulation shall be governed by paragraph (2), (3) or (4) as appropriate.
(2) Employment contracts and employment relationships shall be governed solely by the law of the Member State applicable to the employment contract or employment relationship.
(3) A contract conferring the right to make use of or acquire immovable property shall be governed solely by the law of the Member State in whose territory the immovable property is situated.
(4) Rights of the insurance undertaking with respect to immovable property, a ship or an aircraft subject to registration in a public register shall be governed by the law of the Member State under whose authority the register is kept.