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Cross-border insolvency – dissolved foreign companies

Dissolution of a foreign company that is liable to be wound up in the UK does not hinder such a winding-up. Section 225 Insolvency Act 1986, which permits a dissolved foreign company to be wound up as an unregistered company, has rarely been considered by the courts, but it was confirmed in Re Agrenco Madeira Comércio Internacional Lda [2014] all ER(D) 118 (Apr) that an ongoing liquidation is not affected by a foreign dissolution.

It is not always plain sailing, however, where a foreign company is subject to local proceedings. Let us know if you need help.

 

 

Date: 13th May, 2014
Author: Chris Laughton

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