This article seeks to show that the English Court of Appeal’s refusal to recognize the US receivership in Re Stanford International Bank is not faithful to the Cross-Border Insolvency Regulations 2006 and the decision’s precedential value is seriously questionable. The Court of Appeal’s...

This paper explains the operation of English set-off rules, especially in an insolvency scenario, including cross-border insolvency. In addition to serving as a concise exposition of the law of set-off, this paper discusses case-law and highlight points not mentioned in other set-off texts

A company voluntary arrangement ('CVA') under Part I of the Insolvency Act 1986 ('IA') is a statutory contract into which terms may be implied on ordinary contractual principles. Although some cases proclaim that the court has no power to vary the terms of a CVA or authorise a breach of the CVA...

The proliferation of rules aimed at the management of cross-border insolvencies has not been coupled with sufficient attention to the choice of law rules relating to the avoidance of antecedent transactions as legal acts detrimental to all the creditors. This article is the first of its kind in...

This article seeks to demonstrate that when granting relief under the Cross-Border Insolvency Regulations 2006, the English court may apply foreign law consistent with the US Chapter 15 jurisprudence. Three practical areas where the application of foreign law is often important are bankruptcy...

While English schemes of arrangement have proved to be a popular restructuring tool for non-English companies, their jurisdiction basis has been controversial. Recent cases (the latest being Re Rodenstock [2011] EWHC 1104 (Ch)) show that the position is far from stable. This article maps out the...

This article argues that the enforcement in England in Re New Cap Reinsurance Corporation of an Australian monetary judgment rendered under Australian insolvency law does not sit easily with the Foreign Judgments (Reciprocal Enforcement) Act 1933. This is because the Foreign Judgments...

In explaining the concept of centre of main interests (COMI) within the UK Cross-Border Insolvency Regulations 2006 (CBIR), the Englush court in Re Stanford International Bank over-emphasised third-party ascertainability due to an apparent lack of appreciation of the different functions...

This article assesses the operation of the Financial Collateral Arrangements (No.2) Regulations 2003 (FCAR), as amended by the Financial Markets and Insolvency (Settlement Finality and Financial Collateral Arrangements) (Amendment) Regulations 2010. It will be seen that the FCAR has achieved...

The Scottish decision in Morris (Liquidator of Bank of Credit amp; Commerce International), Re Petition of The Bank of England is correct that an ancillary winding-up makes good sense and may disapply local procedural rules that do not serve any practical purpose. Owing to a misunderstanding of...