Cross Border Restructuring and Insolvency
The team has a pre-eminent reputation for cross border insolvency work. We regularly advise office holders, charge holders, creditors, individuals and businesses on all aspects of cross border insolvency.
For clients located overseas we advise on the options available to them to open insolvency proceedings in England and Wales, obtain recognition of foreign insolvency proceedings, realise assets located here or participate in insolvency proceedings already opened in England.
The team is regularly instructed to realise assets, obtain recognition or participate in insolvency proceedings in continental Europe as well as further afield in Australia, United Arab Emirates, South Africa and the United States.
We are members of Advoc and have extensive experience advising clients based in England and Wales on insolvency issues across the globe.
We publish a monthly Cross Border Bulletin. To subscribe, please click here
- Recognition of Foreign Proceedings
- Letters of Request from foreign courts
- Restructuring & business/asset sales
- Asset Tracing and Recovery
- UNCITRAL applications
- Advice on COMI including switching COMI
- Opening Secondary Proceedings
- Advising an overseas company on moving its COMI/obtaining a letter of request to enable it to be placed into Administration in England and its assets realised
- Acting for a creditor of a foreign national resident in England. Opening Main Proceedings in England to challenge antecedent transactions in the debtor's "home" country
- Advising creditors on options available to them following the presentation of bankruptcy petitions by so called "bankruptcy tourists"
- Obtaining recognition and subsequently opening secondary proceedings in the USA to reverse antecedent transactions and realise property located in the USA
- Acting on behalf of a Trustee to obtain formal recognition of the foreign proceeding, tracing assets across continental Europe and private examination of the bankrupts under the UNCITRAL model law
- Acting for an English Trustee in Bankruptcy who obtained recognition of a worldwide freezing order in South Africa and then went on to sell a luxury beach front holiday home
- Acting for an English Trustee in Bankruptcy who opened secondary insolvency proceedings in Bulgaria and set aside the transfer of 4 holiday apartments
Ashfords' cross border team have acted for me on numerous appointments including the bankruptcy of Rene Rivkin. Their preparation and knowledge is second to none which has resulted in excellent results and a high level of pragmatic, commercial advice.Anthony Warner,
CRS Warner Kugel