This matter concerned a company in liquidation in Russia and a challenge made against the recognition of those proceedings in Great Britain under the Cross-Border Insolvency Regulations 2006 (‘the CBIR’). The company’s liquidator (and ‘foreign representative’ for the purposes of the CBIR) had failed to make full and frank disclosure to the court on his application for recognition, and accordingly the court set aside the order ab initio.
This is of particular relevance to readers who have followed recent events in Salisbury and the escalation of tensions between UK and Russian governments, and have an interest in whether the UK will adopt the Magnitsky Act.
Please click here to view the full article produced in Corporate Rescue and Insolvency