Pacific Exploration & Production Corporation ("the Company"), a Canadian public company who explore and produce natural gas and crude oil with operations focused in Latin America. In April 2016, the Company obtained an initial order from the Ontario Superior Court for protection under the Companies' Creditors Arrangement Act for the restructuring of the Company.

The English High Court has for the first time directly addressed the question of the extra-territorial application of s233 of the Insolvency Act 1986. The Official Receiver as Liquidator of Sahaviriya Streel Industries UK Ltd sought an order to restore access to an IT system provided to the Company by its parent company in Thailand. In granting permission to the Official Receiver to serve the application out of the jurisdiction, the Court was persuaded by the reasoning in the recent cases of Jetivia and Re Paramount Airways which concerned other provisions of the Insolvency Act 1986.

For lawyers dealing regularly with commercial secured lending, the requirement to register company fixed and floating charges has long been fraught with tension. It is a commercial necessity for charges over a company's assets to be registered in a publicly available register. Prospective creditors need to be able to establish how far the company's assets have been secured and are available to meet its commitments. Failure to register will result in the charge being invalid against any liquidator, administrator or creditor of the company if the company becomes insolvent.