Zone of Insolvency

Zone of Insolvency

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

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