Court refuses to exercise winding-up jurisdiction for foreign companies where no benefit likely to be derived from an English liquidation (High Court) | Practical Law

Court refuses to exercise winding-up jurisdiction for foreign companies where no benefit likely to be derived from an English liquidation (High Court) | Practical Law

In Re Buccament Bay Ltd and Harlequin Property (SVG) Ltd [2014] EWHC 3130 (Ch) (3 October 2014) the High Court considered whether it should exercise its discretion to wind up two foreign companies. The court also commented on whether, if the centre of main interests (COMI) of the companies was in the UK, the application of the Insolvency Regulation meant that its discretion to refuse to exercise jurisdiction did not apply.

Court refuses to exercise winding-up jurisdiction for foreign companies where no benefit likely to be derived from an English liquidation (High Court)

by Practical Law Restructuring and Insolvency
Published on 16 Oct 2014 • England, Wales
In Re Buccament Bay Ltd and Harlequin Property (SVG) Ltd [2014] EWHC 3130 (Ch) (3 October 2014) the High Court considered whether it should exercise its discretion to wind up two foreign companies. The court also commented on whether, if the centre of main interests (COMI) of the companies was in the UK, the application of the Insolvency Regulation meant that its discretion to refuse to exercise jurisdiction did not apply.