The Insolvency Regulation aims to establish procedural rules on jurisdiction and applicable law in relation to insolvency proceedings, and to aid the mutual recognition of cross-border insolvency proceedings in EU Member States. It is intended to deter parties from forum shopping within the EU in relation to insolvency proceedings. However it does not seek to harmonize substantive insolvency law.

A recent Court of Appeal decision has confirmed that the usual contractual rules, including as to remoteness of damage, apply by analogy to the assessment of compensation under a cross-undertaking in damages in a freezing order. However, there is also room for exceptions, given that there is in fact no contract: Hone and others v Abbey Forwarding Ltd and another[2014] EWCA Civ 711.

A recent Court of Appeal decision has confirmed that the usual contractual rules, including as to remoteness of damage, apply by analogy to the assessment of compensation under a cross-undertaking in damages in a freezing order. However, there is also room for exceptions, given that there is in fact no contract: Hone and others v Abbey Forwarding Ltd and another[2014] EWCA Civ 711.