Insolvency: Court conduct
The English High Court has taken a lead in promoting a flexible approach to handling European cross-border insolvencies. Lyndon Norley and Richard East assess how this fits in with the European Insolvency Regulation
As the administration of the Collins & Aikman group of companies moves to the point of creditor distributions, a further High Court decision in this matter has been handed down which has broad implications for the efficient conduct of European group insolvencies in the context of the European Insolvency Regulation (EIR). The judgment delivered by Mr Justice Lindsay on 9 June, 2006, in relation to distributions in administration firmly establishes England as the most flexible and pragmatic European jurisdiction through which to conduct a group-wide insolvency under the EIR.
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