Commentary

6 Application of the Cross-Border Insolvency Regulations 2006

BANKRUPTCY AND INSOLVENCY (CORPORATE INSOLVENCY) vol 3(3)
| Commentary

6 Application of the Cross-Border Insolvency Regulations 2006

| Commentary

6 Application of the Cross-Border Insolvency Regulations 2006

The Cross-Border Insolvency Regulations 20061 apply to any foreign insolvency proceedings anywhere in the world. There is no condition of reciprocity. Accordingly, an office-holder in foreign insolvency proceedings may take advantage of the Cross-Border Insolvency Regulations 2006 in the UK in circumstances where the UK officer-holder has no equivalent rights in the foreign jurisdiction. However, where any provision of the Cross-Border Insolvency Regulations 2006 conflicts with a UK obligation under the Regulation (EU) 2015/848 of the European Parliament and the Council2 (the ‘Recast Regulation’), the requirements of the Recast

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