The Court of Appeal’s judgment in HSBC Bank v Tambrook Jersey Limited ([2013] EWCA Civ 576) has confirmed that section 426 of the Insolvency Act 1986 (the Act) empowers English courts to ‘assist’ a foreign insolvency court in circumstances where no insolvency proceedings are underway or in contemplation before that court. This decision overturns the judgment of Mann J in the High Court and affirms the wide access enjoyed by foreign-registered companies to English rescue procedures under section 426.
Location