Cross-border Insolvency in the UK: an embarrassment of riches
Paul Omar (Sussex University) has written an article in Insolvency Law & Practice on cross-border insolvency in the UK. Here's the abstract:
This article examines the provisions governing cross border insolvency under the Insolvency Act 1986 s.426, Council Regulation 1346/2000 and the UNCITRAL Model Law on Cross Border Insolvency 1997, outlining the historical background to the development of the system. It identifies which countries are governed by which legislative provisions and outlines how conflicts are resolved for countries which are governed by two of the different regimes.
The article includes an analysis of two recent decisions of the Chancery division of the High Court – Daisytek-ISA Ltd, Re (2003) BCC 562 (Ch D), and BRAC Rent-A-Car International Inc, Re (2003) EWHC 128; (2003) 1 WLR 1421 (Ch D (Companies Ct)).
The full article can be found on Lawtel: "Cross-border insolvency law in the UK: an embarrassment of riches" Insolvency Law & Practice I.L. & P. (2006) Vol.22 No.4 Pages 132-136.