U.K. Top Court Announced It Will Not Recognize U.S. Bankruptcy Judgments

more+
less-

U.K. Top Court Announced It Will Not Recognize U.S. Bankruptcy Judgments

by Joel R. Glucksman on November 6, 2012

The United Kingdom's Supreme Court has ruled that for the first time in history, it would not recognize decisions by the United States bankruptcy courts against debtor companiesthat fail to appear in court to defend themselves.

The case in question revolved around a $10 million default judgment from the

bankruptcy courts in New York against Eurofinance SA, a distressed company located in the British Virgin Islands. When the trustee for Eurofinance sought to enforce the New York judgment in England, the High Court denied the request.

LOADING PDF: If there are any problems, click here to download the file.


DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Joel Glucksman, Scarinci Hollenbeck | Attorney Advertising

Written by:

more+
less-

Scarinci Hollenbeck on:

Reporters on Deadline

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:

Sign up to create your digest using LinkedIn*

*With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name. Or, sign up using your email address.
×
Loading...
×
×