The COVID-19 pandemic has brought disruption and economic hardship to several businesses around the globe. In Brazil, the effects of lockdown and restriction measures by the Governments have caused numerous companies to file for bankruptcy or judicial reorganisation, the latter being the legal restructuring instrument which aims to assist companies to continue their activities and avoid becoming bankrupt.

Relevant Aspects of the Judicial Reorganisation process

In Vizcaya Partners Ltd v Picard and another, the Privy Council recently held that anagreement to submit to the jurisdiction of a foreign court can arise through an implied term but there must be actual agreement (or consent). However, simply agreeing that an agreement should be governed by foreign law did not amount to agreement to the corresponding jurisdiction.

In SwissMarineCorporation Ltd v OW Supply & Trading[1], the High Court refused to grant an anti-suit injunction restraining Danish insolvency proceedings. This case provides a useful discussion of the circumstances in which the court are likely to grant an anti-suit injunction, and in particular where there are jurisdiction issues involving elements of both civil and insolvency proceedings.