Zone of Insolvency

Zone of Insolvency

Category Archives: Europe

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UK Update: Foreign solvent proceedings not recognised in England under the UNCITRAL model law (as enacted)

By Matthew Thorn (UK) and Joseph McHale (UK) on Posted in Europe, UK
Introduction In Carter v Bailey and Hutchinson (as foreign representatives of Sturgeon Central Asia Balanced Fund Ltd) [2020] EWHC 123 (Ch), the English High Court found that a foreign solvent liquidation could not be recognised under the Cross-Border Insolvency Regulations 2006 (CBIR) (which enacted the UNCITRAL Model Law on Cross-Border Insolvency in Great Britain). Accordingly,… Continue Reading

Claims against IPs: the rising tide

By Helen Fairhead (UK) on Posted in Europe
The role of an IP has always been challenging – taking control of a company in crisis, making swift decisions based on limited information and balancing the competing interests of stakeholders; all of this requires sound judgment, often under extreme pressure. It is no surprise that, when things go wrong (or perhaps more accurately when… Continue Reading

Cambridge Gas resuscitated — Farewell Rubin and Singularis?

By John Verrill (UK) on Posted in Europe
Cambridge Gas Resuscitated – Farewell Rubin and Singularis? On September 19, 2018 UNCITRAL published the final text of its new Model Law on Recognition and Enforcement of Insolvency-Related Judgments. The working group considered the arrested development of the concept of modified universalism following the UK Supreme Court (“UKSC”) judgments in Rubin v Eurofinance SA [2013]… Continue Reading

“No Deal Brexit” and cross-border insolvency cases in the EU

By John Verrill (UK) on Posted in Europe
On 13 September 2018 the UK Government published a briefing on the likely response post exit of the UK to cases which currently fall within the Recast EU Insolvency Regulation (2105/848) (“Regulation”) The full text of its proposal for insolvency cases is as follows: Cross-border insolvency cooperation The majority of the Insolvency Regulation, which covers… Continue Reading