Key points
- Where main proceedings have been opened in one member state, secondary proceedings may be opened in another member state where the debtor has an establishment. The effects of the secondary proceedings shall be restricted to the assets in that territory.
- Local law and court discretion may apply to the opening of secondary proceedings and may be exercised, but these should not be discriminatory.
The Facts
Key point
An English scheme for a company that has a "sufficiently close connection" with the jurisdiction can be proposed albeit recognition in Poland is at the discretion of the Polish courts.
The Facts
Key point
The Court is prepared to look at the overall nature of a directors conduct and dissect a complex series of transactions before concluding what (if any) insolvency failings have been committed by a director.
The Facts
Key points
The court has discretion to allow an insolvency practitioner to recover fees and costs from work done in realising assets for the benefit of a third party but it cannot be exercised where an insolvency practitioner takes action in relation to assets outside in the insolvency estate of his own accord.
The facts
Key Point
No recognition order was made where the main foreign insolvency proceedings had ended even where the plan agreed in those proceedings was in part still to be implemented.
The Facts
Key Point
An "establishment" requires business and business activity to be carried out involving dealings with third parties and not simply acts of internal administration.
Facts
Key point
Pensions in payment were within the ambit of section 310(7) of the Insolvency Act 1986 (the "Act"), but pensions not in payment were not payments to which a bankrupt was “entitled” as the right to draw had not been excerised. The court therefore refused to make an income payments order ("IPO").
The Facts
Key points
Agreements relating to costs in the course of their office could not be set aside by liquidators subsequently appointed.
The facts
Key points
The court has jurisdiction to order the UK Registrar of Companies to replace previously filed administrators' proposals.
The Facts
The administrators of a company filed a statement of proposals with the Registrar but then sought to replace the proposals because they contained information that the company was obliged to keep confidential. The administrators argued that:
Key point
An English winding up does not cease to have effect when an overseas company is dissolved under the law of its state of incorporation.
The facts
Agrenco Madeira – Comercio Internacional LDA (the "Company") was incorporated under the laws of Portugal in March 2004. The Company presented a winding up petition in England in August 2009. Its centre of main interests was in Brazil and therefore the EC Regulation on Insolvency Proceedings did not apply. The Company was wound up in England as an unregistered company in October 2009.