The appellant (H) had claimed in the responder’s (L) insolvency proceedings in Iceland. Their claim had been rejected by L’s winding-up board, and then withdrawn. L then claimed in H’s own insolvency in Scotland, saying that within the EEA, and under the Directive, the decision in Iceland was binding on the Scots proceedings. That argument had been accepted at the Outer House. H appealed.
Held: H’s appeal succeeded.
Judges:
Lord President Hamilton, Lord Mackay of Drumadoon and Lord Marnoch
Citations:
[2011] ScotCS CSIH – 61, [2012] 2 BCLC 21, 2012 SLT 247, 2011 GWD 35-728, 2012 SC 209
Links:
Citing:
Appeal from – The Winding Up Board of Landsbanki Islands Hf v Mills and Others OHCS 20-Jul-2010
The claimants had made claims in the insolvency of Landsbanki in Iceland. There had been a ruling by Landsbanki’s winding-up board in those Icelandic winding-up proceedings that to the extent that it was final and binding in Iceland, it must also be . .
Cited – Adams v National Bank of Greece HL 1961
Questions of interpretation and enforcement of contracts are resolved by reference to the proper law. Although debt under a contract whose proper law is the law of another jurisdiction may, for the purposes of Scots law, be discharged by insolvency . .
Cited by:
Appeal from – Heritable Bank Plc, Administrators of v The Winding-Up Board of Landsbanki Islands Hf SC 27-Feb-2013
A claim by Heritable (H) in Landsbanki’s (L) insolvency had been rejected and then withdrawn before the Icelandic court, and L now appealed against rejection of its own assertion that that Icelandic decision was binding also within its own claim . .
Lists of cited by and citing cases may be incomplete.
Scotland, Insolvency, European
Updated: 20 September 2022; Ref: scu.444856