Isle of Man court permits indefinite adjournment in recognition of Icelandic bank's winding-up
Scales (Credit: Thinkstock.com/Vladek)
An Isle of Man court has agreed to adjourn indefinitely proceedings for the recognition of the winding-up of Iceland’s Kaupthing Bank, in case future creditors arise – accepting counsel’s argument that an “aura of uncertainty” exists in Manx law over the recognition of foreign insolvency proceedings.
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