The English Court of Appeal has witnessed two days of arguments on the interpretation of the UK’s Cross-Border Insolvency Regulations and the UNCITRAL Model Law on which they’re based, as a restructured Azeri bank tried for a second time to obtain an “indefinite moratorium” to stop creditors enforcing English-law governed claims.
25 October 2018
Russia’s Sberbank can proceed with a US$20 million debt recovery claim against the International Bank of Azerbaijan in the English High Court, while a separate dispute between the pair – in which the latter plans to challenge the controversial Gibbs rule – plays out its first leg in the Court of Appeal.
19 October 2018
Eastern European regulators have seen a slew of reforms over the last few weeks: Hungary has taken a novel approach to addressing cross-border insolvencies; Azerbaijan has introduced a new framework for resolving banks; and Ukraine’s restructuring regime enacted last year came into force.
20 April 2017
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