Global Restructuring Review - Cross-border restructuring and insolvency legal news, features and events

English appeal court bars asset-stripping claims

By Douglas Thomson

05 July 2018

An asset-stripping claim against the former director of foreign exchange trader Creative Finance will not be heard in London, after an appeal court ruled it was barred under the doctrine of reflective loss because it would prejudice creditors in the trader’s British Virgin Islands liquidation.