Isle of Man court permits indefinite adjournment in recognition of Icelandic bank's winding-up

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.

Get unlimited access to all Global Restructuring Review content