All your resources at your fingertips.Learn More
The Official Receiver successfully obtained the annulment of bankruptcy orders obtained by a number of German nationals on their own petitions. It was a common theme that each of the debtors had come to the UK with the assistance of Medicon Ltd, or had had assistance from it once here. District Judge Dancey held that in each case, the debtors had come to this jurisdiction for the purpose of taking advantage of the more relaxed insolvency regime here. Any arrangements were no more than transitory and designed to give an appearance of a base in this country to that end. None of them had their COMI in this jurisdiction at the time the orders were made. While the decision whether to annul was discretionary, it had been shown that the bankruptcy orders should not have been made, so the discretion should be exercised in favour of annulment, as was normal.
To view the full text, please log in.
To receive a FREE 14 day online trial to Insolvency Law Online click here.
"BPIR is an excellent series, of interest to both corporate and personal insolvency lawyers,...