Podcast Location:
Download it here [file size: 29.9 MB]
Part of:
Cross Border Insolvency CPD Training Bundle
Categories:
Insolvency & Restructuring
CPD Points:
Up to 1 point. details »

Due to the difference in guidelines between the SRA and the Bar Standards Board, CPD points are awarded differently for Solicitors, Barristers and Legal Executives:

Regulated by the Solicitors Regulation Authority:
Listen and pass the quiz: Gain 1 CPD point (60 minutes)
Listen only, gain ½ a CPD point (30 minutes)

Regulated by the Bar Standards Board:
Listen and pass the quiz: Gain 1 accredited CPD point (60 minutes)

Regulated by ILEX:
Listen and pass the quiz: Gain 1 CPD point (60 minutes)
Listen only, gain ½ a CPD point (30 minutes)

Cost:
  • FREE
Length:
30 minutes of audio
(+ optional 5 minute online quiz)
Plays on Computer:
Yes Downloadable as MP3:    Yes
Contributor(s):
Course Aims:

This podcast aims to flag up the difficulties experienced by administrators and liquidators when managing the affairs and property of a company who’s assets are based overseas. It will look at the issue posed by aggressive creditors in foreign countries and how they might be restrained to ensure an orderly winding down of the company’s affairs.

Outcomes:
After completing the course you will:
  • Understand the function of the moratorium against a company in administration or liquidation;
  • Understand the role of a liquidator or administrator;
  • Be aware of the rationale behind the moratorium in either scenario;
  • Understand the jurisdiction of the court to grant an injunction to restrain the actions of a creditor against the company in distress;
  • Understand the circumstances in which an injunction to restrain a creditor in a foreign country will be appropriate;
  • Understand the approach the court’s take to injuncting actions overseas;
  • Be aware of the distinction between European proceedings and non-European proceedings.
Level:
Complex Difficulty: 4 of 5
Classification:
Case Update
Panel Discussion
Sources and References:
  • Insolvency Act 1986 s130(2), Sch. B1 para 43(6);
  • Re Oriental Inland Steam Company (1874) LR 9 Ch. App 557;
  • Re Vocalion (Foreign) [1932] 2 Ch 196;
  • UNCITRAL Model Law on Insolvency Proceedings (1997);
  • EC Regulation on Insolvency Proceedings (1346/2000);
  • Barclays Bank v Homan [1993] BCLC 680;
  • Bloom and others v Harms Offshore AHT “Taurus” GmbH & Co KG and Anor [2009] EWCA Civ 632;
  • Shipping Corporation of India Ltd v Jaldhi Overseas Pte Ltd (No. 08-3477).
Tags:

This podcast is about the jurisdiction of the English courts to restrain a creditor from bringing proceedings against a company or its goods when that company is in liquidation or administration. Edward Cumming and Elspeth Talbot Rice QC make a candid appraisal of the law in this area, specifically what happens where a creditor and the company’s goods are based outside the territory of the UK.

Podcast added: 23/07/10

Podcast last reviewed: 2011-05-31

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