Enforcing Foreign Insolvency Judgments: New Cap Re

Corporate Rescue and Insolvency, Vol. 26, No. 4, p. 157, 2011

33 Pages Posted: 28 Nov 2011

Date Written: November 27, 2011

Abstract

(i) This article argues that the enforcement in New Cap Reinsurance Corporation v Grant of an Australian insolvency judgment is correct, although several aspects of the decision call for revision, in particular the unquestioning acceptance of Rubin v Eurofinance being binding.

(ii) The Court of Appeal in New Cap Reinsurance Corporation v Grant missed a golden opportunity to depart from Rubin v Eurofinance.

(iii) The Foreign Judgments (Reciprocal Enforcement) Act 1933 applies to foreign insolvency judgments.

(iv) Section 426 of the Insolvency Act 1986 may ordinarily lead to enforcement of to foreign insolvency judgments.

(v) The 1933 Act (where applicable) bars common law enforcement of foreign insolvency judgments.

(vi) The 1933 Act should also bar enforcement of foreign insolvency judgments under s 426, and the Court of Appeal was mistaken in concluding otherwise.

Keywords: Cross-border insolvency, common law regime, enforcement of foreign insolvency judgments, enforcement of Australian judgment in England

JEL Classification: K10, K12, K19, K20, K29, K30, K33, K39, K40, K40, K41, K42, K49

Suggested Citation

Ho, Look Chan, Enforcing Foreign Insolvency Judgments: New Cap Re (November 27, 2011). Corporate Rescue and Insolvency, Vol. 26, No. 4, p. 157, 2011, Available at SSRN: https://ssrn.com/abstract=1965257

Look Chan Ho (Contact Author)

Des Voeux Chambers ( email )

38/F Gloucester Tower
The Landmark
Central
Hong Kong
+852 2526 3071 (Phone)
+852 2810 5287 (Fax)

Do you have a job opening that you would like to promote on SSRN?

Paper statistics

Downloads
72
Abstract Views
530
rank
384,524
PlumX Metrics