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Insolvency Law

Expert guidance on all aspects of corporate and personal insolvency

26 AUG 2013

HSBC Bank plc v Tambrook Jersey Ltd [2013] EWCA Civ 576; [2013] BPIR 484

(Court of Appeal, Longmore, McFarlane and Davis LJJ, 22 May 2013)

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.

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