Introduction

What happens when monies are loaned for a specific purpose but that purpose fails? Should those monies fall within the general assets of the recipient upon bankruptcy or insolvency?

Re Diffraction Diamonds DMCC [2017] EWHC 1368 (Ch)

This case deals with the English Court’s jurisdiction to wind up foreign companies, on the grounds of public interest. While it does not create new law, it is a helpful review of the authorities, particularly Re Titan International Inc [1998] 1 BVLC 102 (“Titan”).

Case Facts