An English court has power in an ancillary liquidation (provisional or final) to authorise the English liquidators to transmit the English assets to the principal liquidators in the company’s home country. The bases for this are the principles of international comity, and the desirability of a single bankruptcy administration which dealt with all the company’s assets.
Sir Richard Scott V-C said: ‘the ancillary character of an English winding up does not relieve an English court of the obligation to apply English law, including English insolvency law, to the resolution of any issue arising in the winding up which is brought before the court.’
Sir Richard Scott V-C
[1997] Ch 213
England and Wales
Cited by:
Cited – McGrath and others v Riddell and others HL 9-Apr-2008
(Orse In Re HIH Casualty and General Insurance Ltd)
HIH, an Australian Insurance company, became insolvent. An order was sought for the collection and remission of it assets in England under a letter of request from the Australia Court.
Insolvency
Updated: 11 December 2021; Ref: scu.266553