Decree n°2012-1190 dated 25 October 2012 (JORF n°0251 dated 27 October 2012) issued for the implementation of Law n°2012-346 dated 12 March 2012 sets out the rules for implementing conservatory measures within safeguard, reorganisation or liquidation proceedings.

In the much anticipated decision of Belmont Park Investments PTY Limited v BNY Corporate Trustee Services Limited and Lehman Brothers Special Financing Inc [2011] UKSC 38 the Supreme Court has unanimously dismissed the appeal of Lehman Brothers Special Financing Inc (“LBSF”) and in so doing provided clarification as to the scope and application of the anti-deprivation rule (the “Rule”).

Law n°2011-331 dated 28 March 2011 (OJ of 29 March 2011) relating to modernising the legal professions includes the creation of a secure Internet portal aiming at relaxing the formalities related to insolvency. This national portal will allow the sending and reception of legal proceedings documents, including statements of claim.

Decree n°2011-236 of 3 March 2011 (OJ of 4 March 2011) details the so-called sauvegarde financière accélérée introduced by Law n°2010-1249 of 22 October 2010 (OJ of 23 October 2010) (

The Court of Appeal1 has ruled that foreign judgments in insolvency proceedings may be enforced by the English courts at common law, and that the ordinary principles which may prevent the enforcement of foreign judgments do not apply to insolvency judgments where the action from which the foreign judgment arises is integral to the collective nature of the insolvency proceedings.

Facts

In a recent case1 the High Court held that the purported out of court appointment of administrators over a Guernsey registered limited partnership was void because the appointor used the incorrect form when giving notice of its intention to appoint.

Background