5 May 2017
The Chancellor of the High Court, Sir Geoffrey Vos, has approved an addition to the Chancery Guide directing the attention of practitioners involved in an international insolvency case to the desirability of considering at an early stage whether to invite the Companies Court to adopt a set of guidelines on Court-to-Court communication and co-operation for use in the proceedings.
The addition to the Chancery Guide highlights three such sets of guidelines, the most recent of which are the Judicial Insolvency Network (JIN) Guidelines. These originated in a conference held in Singapore in October 2016 which was attended by leading judges from a significant number of jurisdictions including the United Kingdom (Lady Justice Gloster), the United States, Canada, Australia and Hong Kong.
The JIN Guidelines build on earlier guidelines, including those issued by the American Law Institute and the International Insolvency Institute, and provide a modern framework for the efficient conduct of insolvency proceedings which involve the courts of more than one country.
In introducing the addition to the Chancery Guide, Sir Geoffrey Vos said,
“There is increasing international recognition that communication and co-operation between courts in different jurisdictions is likely to be of assistance in the efficient conduct of cross-border insolvency cases, leading to a maximisation of the value of a company in financial difficulties for the benefit of all stakeholders.
UK practitioners and the specialist insolvency courts of England and Wales have considerable experience and expertise in dealing with complex international insolvencies. I welcome the new JIN Guidelines as a valuable addition to the tools available to them to continue to provide an innovative and first class service to the international commercial community.”
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