||All England Reporter
|| All ER (D) 28 (Dec)
|| EWHC 3153 (Ch)
||Chancery Division (Companies Court)
Sir Geoffrey Vos C
||Joe Smouha QC, Ciaran Keller and Watson Pringle (instructed by Kobre & Kim (UK)LLP) for the Hermitage parties.
||Daniel Bayfield QC and James Willan (instructed by CMS Cameron McKenna Nabarro Olswang LLP) for N.
||5 December 2017
Insolvency - Cross-border insolvency - Public interest in determining disclosure issue in high profile cross-border insolvency involving Russian company and whether recognition order granted to respondent Russian official receiver of company should be set aside
Insolvency Cross-border insolvency. The proceedings concerned a high-profile cross-border insolvency of a Russian company. The Chancery Division set aside a recognition order that had been granted to the respondent, who had been appointed by a Russian court as the official receiver of the company, where he had breached his duty of full and frank disclosure when applying for the order. The court so ruled further to its finding that there was a public interest in determining the disclosure issue, notwithstanding that the parties had agreed on most of the issues concerning the outcome of the litigation.
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