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  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
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