Clifford Chance

Recognition of foreign insolvency judgments: Back to basics?

26 October 2012

The English Courts have been moving enthusiastically towards a universal approach to all insolvencies, even though this carried them further than Parliament or international convention has so far been prepared to go. However, in refusing to recognise a default judgment given in a US insolvency in Rubin v Eurofinance S.A. [2012] UKSC 46, the Supreme Court has brought this movement to an abrupt halt.

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