Tuesday 25 January 2022

UK: England and Wales: insolvency - cross border - immovable property

The ICLR has published, as part of its WLR(D) series, a summary for the recent Court of Appeal decision Kireeva v Bedzhamov [2022] EWCA Civ 35: see here

The court held (to quote directly from the summary): "While a foreign office holder might be able to obtain the court’s assistance either under section 426 of the Insolvency Act 1986 and common law recognition, the same assistance was not available in both positions and they could not be equated. Section 426 specifically authorised the English court to assist foreign courts sharing the same legal tradition but it could not be inferred that assistance under that provision could also be provided to immovable property without any statutory sanction to a court anywhere in the world and regardless of the legal tradition in that jurisdiction".

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