Cross-border insolvency - HIH Insurance
You may recall that we blogged on HIH Insurance (McGrath v Riddell) back in April 2008. The significance of the judgement is not the result that English assets were remitted to Australia, but the absence of majority support for the proposition that it is English common law or judicial principles, rather than section 426 Insolvency Act 1986, that allow the result.
INSOL International has now released a case study on this verdict, offering insight into the background of the case, its procedural history, the ruling of the court and the cross-border implications of the decision.
Date: 22nd January, 2009
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