In a case with truly global implications, the Supreme Court of England and Wales held earlier today that judgments of U.S. Bankruptcy Courts against foreign defendants who had not submitted to the Bankruptcy Court’s jurisdiction were not enforceable in England and Wales in the case of Rubin v. Eurofinance SA.
Factual Background
United Kingdom, USA, Insolvency & Restructuring, Litigation, Reed Smith LLP, Bankruptcy, Debtor, Court of Appeal of England & Wales, High Court of Justice (England & Wales), United States bankruptcy court
In a recent high profile case brought by the administrators of 20 insolvent companies in the Lehman and Nortel groups, the High Court ruled that the cost of complying with a financial support direction (“FSD”) issued after the date of the commencement of a company’s administration or liquidation by the Pensions Regulator would rank as an expense of the administration or liquidation.
United Kingdom, Employee Benefits & Pensions, Insolvency & Restructuring, Litigation, Reed Smith LLP, Debt, Liquidation, Unsecured creditor, Leverage (finance), The Pensions Regulator (UK), House of Lords, Pensions Act 2004 (UK), Trustee, Court of Appeal of England & Wales
United Kingdom, Insolvency & Restructuring, Litigation, Squire Patton Boggs, Mediation, Cryptocurrency, Cladding, Non-fungible tokens, Insolvency, American Bankruptcy Institute, Transfer of Undertakings (Protection of Employment) Regulations 2006 (UK), Pensions Act 2004 (UK), Building Safety Act 2022 (UK)