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The Jersey court asked for assistance from the English court under s 426 of the Insolvency Act 1986, requesting the appointment of administrators over a Jersey company which was then not in any form of insolvency proceeding in Jersey and whose Centre of Main Interests (COMI) was not in England and Wales. Mann J dismissed the application on jurisdictional grounds. The Court of Appeal allowed the appeal. The judge had erred in his interpretation of s 426(4). It was not a prerequisite that there should be formal insolvency proceedings existing in the requesting state in order for the section to be engaged, and a broad purposive interpretation was to be given to the section.
"This is the ultimate statement of where the law on IVAs is to be found in our great common law...